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Kentucky's Cigarette Tax
Summary: The proposed cigarette tax increase in Kentucky, one of the leading states in tobacco production, would have a significant impact on the state. While the proposed tax would help the state government's deficit and indirectly promote public health among Kentucky residents, opponents argue that the tax would hurt the state's tobacco-driven economy and decrease store sales.
Kentucky has been without a budget since the General Assembly failed to pass a spending plan in 2004. The fact is, they could not agree on a spending plan because they did not have enough money to spend. But if a budget is not passed by July the state government could go into a court ordered shutdown.
In order for a budget to be passed, a tax reform is needed. Governor Fletcher is planning to propose a tax reform that includes an increase in cigarette tax, a new liquor tax, new taxes on other tobacco products, an increase in corporate taxes, and a decrease in personel income tax. Of course, being Kentucky the propsed 31 cent per pack increase has aroused the most sentiment. Kentucky has a large tobacco industry and many smokers so an increase of over a thousand percent of taxes on cigarettes is arousing opposition. Kentuck'ys current...
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This section contains 384 words (approx. 2 pages at 300 words per page) |
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