A bill to amend the Internal Revenue Code of 1986 to increase to 32 cents per pack the Federal excise tax on cigarettes and to provide that the revenues from the additional tax shall be deposited in the Federal Hospital Insurance Trust Fund under the Social Security Act.

referredUnited States· United States Congress· EN

Introduced

7 January 1987

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $8 to $16 per thousand for small cigarettes; and (2) $16.80 to $33.60 per thousand for large cigarettes. Imposes a floor stock excise tax on small and large cigarettes. Transfers revenues raised by such additional taxes to the Federal Hospital Insurance Trust Fund (Medicare).

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Documents

1 official file

Introduced in House
summary · EN · 7 January 1987
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/house-bill/493
Open data entity: https://api.congress.gov/v3/bill/100/hr/493