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Home > What's New > House to Propose Less Stringent Cigar Tax
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House to Propose Less Stringent Cigar Tax
Posted: Wednesday, July 25, 2007
By David Savona
The House Ways & Means Committee is set to unveil its own, less taxing, proposition for funding the Children's Health Care Initiative.
The plan, scheduled for markup on Thursday, would call for an increase in the federal excise tax on large cigars to 44.63 percent of the manufacturer's or importer's sales price, according to the Cigar Association of America, compared to 55.3 percent for the Senate. The big difference, however, is in the cap: the much-criticized Senate bill calls for a $10 cap, while this House bill would have a cap of $1. The current cap is just under five cents.
The House bill also does not have a floor tax on cigar inventory.
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