Saturday, June 22, 2024

The U.S. House of Representatives approved the electronic cigarette tax

$9.9 billion in revenue in 10 years

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The House Ways and Means Committee approved a tax on nicotine e-cigarettes, which means the United States will tax nicotine liquids for the first time.

Many young people smoke e-cigarettes. The purpose of the bill is to raise the price of e-cigarettes, make them unable to afford, and reduce the proportion of young people who smoke.

After the implementation of the tax law, every 1810 mg of nicotine e-cigarette liquid will be taxed at $50.33. For example, if it’s a Juul catridge, it contains 5% nicotine and 0.7ml liquid, so it’s $1.15 for tax.

Young people are more sensitive to price, and tax collection can play a certain role, but it can not completely prevent young people from smoking electronic cigarettes.

The Joint Committee on taxation points out that once the new law is passed and implemented, it will generate US $9.9 billion in federal policy revenue in the next 10 years.

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