A bill to amend the Internal Revenue Code of 1954 to increase to 32 cents per pack the Federal excise tax on cigarettes and to provide that the revenues from such tax shall be divided among the general fund, the Federal Hospital Insurance Trust Fund under the Social Security Act, and research on tobacco-related diseases.

Summary

Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $8 to $16 for small cigarettes; and (2) $16.80 to $33.60 for large cigarettes. Imposes a floor stock excise tax on small and large cigarettes. Appropriates one-fourth of the revenues raised by such excise taxes to the Federal Hospital Insurance Trust Fund (Medicare). Establishes in the Treasury the Tobacco-Related Disease Research Trust Fund. Appropriates to such Trust Fund one-fourth of the revenue raised by such excise taxes.

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1 official file

• Introduced in House

  summary · EN · 7 March 1985

  Open at official source

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