A bill to amend sections 5701(a)(2) and 5702(m) of the Internal Revenue Code of 1954 to modify the base on which the tax on large cigars is imposed and to achieve a phased reduction in the tax rate.

Summary

Amends the Internal Revenue Code to reduce the excise tax on large cigars for fiscal years 1982 to 1983 and eliminate the tax thereafter. Revises the formula for determination of wholesale price, on which the excise tax is based.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 20 May 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 20 May 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 15 June 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 20 May 1981

  Open at official source

Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Heflin, Howell [D-AL] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• Sen. Specter, Arlen [R-PA] · R · Cosponsor
• Sen. Chiles, Lawton [D-FL] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend sections 5701(a)(2) and 5702(m) of the Internal Revenue Code of 1954 to reduce the excise tax rate imposed on large cigars and to modify the base on which such tax is imposed.