NewsWhore
08-29-2007, 05:30 PM
Today's Chicago Tribune focuses on how thousands of jobs are at risk in the DR because of US legislation that will hike taxes on cigars to help fund an expansion of children's health insurance. The newspaper explains that a US$10 cigar would pay US$3 under the Senate bill. Producers in the DR, Nicaragua and Honduras are concerned that the 30 to 40% price hikes would be devastating, because many consumers would simply stop buying cigars.
As reported, the US bill would primarily affect the DR, which sends about 55% of all imported cigars to the US. The newspaper explains that when Congress reconvenes in September, it will try to reconcile House and Senate versions that aim to extend the State Children's Health Insurance Program. The House bill is more favorable to the tobacco industry, capping the tax at US$1 for each cigar.
www.chicagotribune.com/news/nationworld/chi-cigars_avilaaug28,1,6982905.story (http://www.chicagotribune.com/news/nationworld/chi-cigars_avilaaug28,1,6982905.story)
More... (http://www.dr1.com/index.html#12)
As reported, the US bill would primarily affect the DR, which sends about 55% of all imported cigars to the US. The newspaper explains that when Congress reconvenes in September, it will try to reconcile House and Senate versions that aim to extend the State Children's Health Insurance Program. The House bill is more favorable to the tobacco industry, capping the tax at US$1 for each cigar.
www.chicagotribune.com/news/nationworld/chi-cigars_avilaaug28,1,6982905.story (http://www.chicagotribune.com/news/nationworld/chi-cigars_avilaaug28,1,6982905.story)
More... (http://www.dr1.com/index.html#12)