ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 4742, Protecting American Lungs Act of 2019   [open pdf - 77KB]

This is the Congressional Budget Office Cost Estimate as ordered reported by the House Committee on Ways and Means on October 23, 2019. From the Bill Summary: "H.R. 4742 would impose a new excise tax on nicotine used in vaping and for other purposes, which has been extracted, concentrated, or synthesized at a rate of the greater of the dollar amount specified for small cigarettes in 26 U.S.C. 5701(b)(1) or $50.33 per 1,810 milligrams of nicotine. The new tax would not apply in cases where the manufacturer or importer demonstrates that such nicotine will be used in a product approved by the Food and Drug Administration for sale as a nicotine replacement therapy. The new tax would generally not apply to products already subject to the existing excise tax on tobacco."

Publisher:
Date:
2019-11-18
Copyright:
Public Domain
Retrieved From:
Congressional Budget Office: http://www.cbo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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