The House Ways and Means Committee is scheduled to consider a bill on Wednesday that would impose a tax on the nicotine used in vaping, Chairman Richard Neal (D-Mass.) announced Monday.
The panel will mark up a bipartisan bill introduced by Reps. Tom Suozzi (D-N.Y.) and Pete King (R-N.Y.), under which nicotine from vaping products would be taxed at the same rate as nicotine from cigarettes.
The Joint Committee on Taxation estimates that the bill would raise nearly $10 billion over a decade. Suozzi’s office said that the revenue raised by the vaping bill would be used to offset the cost of other bills the Ways and Means Committee is considering Wednesday that would require certain high-deductible health plans to cover the cost of inhalers, and that would allow people to use tax-advantaged accounts to purchase over-the-counter medications and menstrual-care products.
For the full story: THE HILLTHE Hill
by naomi jagoda
October 21, 2019