NewsWhore
10-04-2007, 02:30 PM
Agriculture Minister Salvador Jimenez celebrated the veto that US President George Bush made yesterday to the bill that would have made Dominican cigars sold in the US much more expensive. Jimenez said the tax would have meant losses in sales of an estimated 30%, or about US$100 million, and 10,000 jobs, as reported in El Caribe.
Jorge Mercado of the Cibao Tobacco Growers said that this will reenergize the tobacco industry in the DR.
The veto stops the increase in the federal excise tax on cigars from the current US$0.05 to a US$3.00 per cigar cap. Both the House and Senate had approved the bill, but the House did not have enough votes to override the veto. Nevertheless, the threat to sales of Dominican cigars in the US is not over. According to cigar sources, until new legislation is negotiated between the US Congress and President to reauthorize the health care program, the tax could resurface.
Democrats say they won't let the bill die and will look to override the President's decision meaning they will need 2/3rds vote majority to do so.
You can read more in the New York Times (http://www.nytimes.com/aponline/us/AP-Bush-Childrens-Health.html?_r=1&hp&oref=slogin).
More... (http://www.dr1.com/index.html#2)
Jorge Mercado of the Cibao Tobacco Growers said that this will reenergize the tobacco industry in the DR.
The veto stops the increase in the federal excise tax on cigars from the current US$0.05 to a US$3.00 per cigar cap. Both the House and Senate had approved the bill, but the House did not have enough votes to override the veto. Nevertheless, the threat to sales of Dominican cigars in the US is not over. According to cigar sources, until new legislation is negotiated between the US Congress and President to reauthorize the health care program, the tax could resurface.
Democrats say they won't let the bill die and will look to override the President's decision meaning they will need 2/3rds vote majority to do so.
You can read more in the New York Times (http://www.nytimes.com/aponline/us/AP-Bush-Childrens-Health.html?_r=1&hp&oref=slogin).
More... (http://www.dr1.com/index.html#2)