New York State has problems. The state has a $9 billion budget gap. They expect to raise $440 million on the cigarette tax increase and on the proposed 75% tax hike on pipe tobacco, chewing tobacco and cigars. The price of a pack of smokes would easily exceed $10! I currently pay less than $4.50 where I live. Bootleg cigarettes could be the next big thing in the Empire State!
The NY State Legislature votes on the plan Monday. If passed, the tax goes into effect on September 1.
This, of course, will not solve the state's money problems. They may want to consider spending less money. Just a thought.
