Higher tobacco, nicotine tax approved | SummitDaily.com

Higher tobacco, nicotine tax approved

Proposition EE will increase the tax on a pack of cigarettes from 84 cents to $2.64 by 2027

Coloradans voted to approve a tax increase on tobacco products and a new tax on vaping products such as e-cigarettes in Tuesday’s election.

Proposition EE will increase the tax on a pack of cigarettes from 84 cents to $2.64 by 2027. Taxes on other tobacco products would also increase to 22% of the manufacturer’s list price by the same year, while nicotine products would be increased by 62% of the list price by 2027.

As of 8:47 p.m., more than 1.8 million, or 68.6%, votes were in favor of the measure and 832,210 votes, or 31.4%, were opposed. About 79% of votes were counted.

The money from the tax increases will be directed toward public education, universal preschool, and vaping cessation and education programs.

A Bad Deal for Colorado, a group opposing the measure, said in a news release that it was “disappointed in the outcome” of the results.

Read the full story at DenverPost.com.

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