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Federal Cigarette Tax Increase Signed Into Law; Raises Taxes on Families Earning Under $250,000
by Joseph Henchman
President Obama yesterday signed into law H.R. 2, a 4-1/2 year reauthorization of the Children's Health Insurance Program (formerly State Children's Health Insurance Program). The bill is estimated to fund health insurance for the existing 7 million beneficiaries, and expand it to a net further 4 million at 300% of the poverty level with the most favorable federal matching funds. (I say "net" because it takes into account children who currently have private insurance, and a smaller number who have Medicaid, who will be induced to drop it and enter the more generous government program.) It had passed the House by a vote of 290-135 and the Senate by a vote of 66-32.
Originally posted by amazing
A good reason to quit smoking? Like anyone needs another good reason to quit. LOL
I do hate all taxes though!