NewsWhore
02-06-2009, 03:20 PM
The price of cigars produced in the DR is likely to go up this year. While it had been held up under the Bush Administration, President Barack Obama has signed a measure aimed at raising the federal excise tax on tobacco while expanding the State Children's Health Insurance Program (SCHIP). The bill calls for the tax on large cigars to be capped at 40.26 cents per cigar, which is up from the present five-cent cap. The legislation will take effect on 1 April. The revenue will go towards the State Children's Health Insurance Program (SCHIP), a US$32.8 billion 12-year program to provide health insurance coverage to families who can't afford it, and don't qualify for Medicaid.
The DR is a major exporter of cigars to the US market, and could be affected by drop in export volumes.
More... (http://www.dr1.com/index.html#8)
The DR is a major exporter of cigars to the US market, and could be affected by drop in export volumes.
More... (http://www.dr1.com/index.html#8)