House Democrats’ tax hike on tobacco, vaping may violate Biden’s pledge

House Democrats’ tax hike on tobacco, vaping may violate Biden’s pledge

- House Democrats have proposed a tax hike on tobacco and nicotine to help fund their $3.5 trillion spending plan. - Opponents say the measure may violate President Joe Biden's pledge not to raise taxes on Americans making less than $400,000 per year. - The tax may bring in more than $96 billion over the next decade, but it may be a "risky" source of revenue, policy experts say. House Democrats have proposed a tax hike on tobacco and nicotine products to help fund their $3.5 trillion spending plan. The measure may increase current levies on cigarettes, cigars and roll-your-own and smokeless tobacco, according to a plan summary. They have also proposed new taxes on vaping products. Companies typically pass so-called excise taxes — levies on specific goods such as …
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