$13 a pack? NYC mayor wants highest cigarette prices in US
- Author: Lila Blake Apr 21, 2017,
Apr 21, 2017, 0:13
The bill, from Council Member Johnson, would raise the price of a pack of cigarettes from $10.50 to $13, which the mayor's office claims will lower the percentage of adults who smoke from 14.3 percent to 13.9 percent.
The proposed tax hike is meant to reduce the number of smokers in New York City by 160,000 over the next three years.
The immediate impact of de Blasio's announcement on tobacco bonds issued by the New York City couldn't be determined. "Tobacco is everywhere. It's just too easy to get".
The plan includes not only the proposed price floor hike, but also four other platform points: "reducing through attrition the number of tobacco retailers citywide", "creating a retail license for e-cigarettes, and capping the number of e-cigarette retailers", "requiring all residential buildings to create a smoking policy and disclosing it to both current and prospective tenants", "and banning the sale of tobacco products at pharmacies". It would create a retail license for e-cigarettes. The study also found no serious side effects in either the short or medium term.
A federal excise tax increase, which would have a greater impact on consumption, isn't imminent given the Trump administration's push to reduce taxes and cut regulation, Jeffrey Burger, who co-manages the Dreyfus High Yield Municipal Bond fund, has said. Just as drugs and guns are available on the black market, cigarettes will be as well.
April 20, is "All Acceptance Day" in New York City - a day when parents find out which Pre-K their child has been accepted to.
Also, enforcing this law will create new opportunities for unsafe encounters between police and citizens.
You could soon pay more for cigarettes in New York City. Garner's alleged crime was that he was selling single cigarettes, called "loosies" on the street.
Junk-rated municipal tobacco-bonds have returned 12.8 percent this year, more than three times the muni high-yield bond index, according to Standard & Poor's. However, it is healthier than the government's desire to control people's lives and extract more tax revenue.