The End Tobacco Loopholes Act would raise federal excise taxes on cigarettes and several other tobacco products, including roll-your-own tobacco, pipe tobacco, smokeless tobacco, and cigars. It would also tax certain extracted, concentrated, or synthesized nicotine, including nicotine used in vaping products, with exceptions for certain approved or investigational medical products. The bill would adjust dollar tax amounts for inflation after 2025 and impose a tax on some tobacco products already held for sale when the tax increases take effect.
If you buy products covered by the bill, they would be subject to higher federal excise taxes. The bill does not state how those taxes would affect retail prices. Certain nicotine used in qualifying medical products would be excluded from the new nicotine tax.
The bill raises federal excise taxes but does not estimate the resulting revenue or any changes in consumer expenses. It allows a credit of up to $500 against certain taxes on products held for sale when the tax increase takes effect.
No publicly available information.
No publicly available information.