17 juillet 2009
Tobacco Impacts
CBO also estimates that the amount of tax revenues and settlement funds collected by state and local governments would decline as a result of the federal regulations authorized by this bill because of lower consumption of tobacco products.
However,
those declines in revenues, estimated to total over $1 billion during the 2010-2014
12
period, would not result from intergovernmental mandates. Rather, the decline in
revenues would be an indirect effect on state and local governments resulting from the
new federal regulations imposed on companies that manufacture and distribute tobacco
products.
In 2008, state and local governments collected about $19 billion in revenues from excise
and general sales taxes levied on tobacco products. CBO estimates that this bill would
lower consumption of those products and that excise taxes collected by state and local
governments would fall by about $20 million in 2010, with that reduction growing to
over $300 million in 2014. Similarly, CBO estimates that state and local governments
would see a decline in sales-tax revenues of about $160 million over the 2010-2014
period.
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