Legislation permitting counties to increase the excise tax on cigarettes was approved by the California Senate Thursday, August 27. Another bill — introduced the day before — would hike the state excise tax by $2.00 per pack. The state legislature should prevent both bills from passing.
If the local excise tax option is adopted, the law will almost assuredly lead to higher excise tax burdens in some if not most counties. (Counties would need to have to submit an increase to a public vote.) This will increase price differentials between counties (and differentials with other states and nations) and invariably be followed by the lawlessness associated with cigarette tax avoidance and evasion, among other unintended consequences. Local excise taxes will only compound the damage done by a statewide hike. Worse, research shows that the health benefits of excise tax hikes are weak, and perhaps even counterproductive.
Local excise taxes on cigarettes are not a new invention. We see them used...
A national poll conducted by polling agency Zogby Analytics found a majority of American consumers hold a negative opinion of the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act to advocate for consumers and enforce new financial laws and regulations.
The poll, commissioned by the U.S. Consumer Coalition, found 55 percent of respondents believe the agency’s financial data...
After months of fighting with the popular transportation-network company Uber, New York City Mayor Bill de Blasio is backing away from proposed restrictions on how many new drivers the company can hire.
As part of the compromise reached between de Blasio administration officials and Uber, the ridesharing company agreed to turn over geolocation data to the city to assist a planned four-month study on the service’s effect on city traffic patterns.
Stated Goals, Real Goals
Jared Meyer, a...