A bill pre-filed with the New Mexico State Senate is seeking to more than double the taxes on premium cigars and other tobacco taxes in an attempt to close budget shortfalls and improve the health of residents.
Included in Senate Bill 77, written by Sen. Howie Morales, D-Silver City, is an increase in the tax on cigars and other tobacco products from 25 percent to 66 percent of their value. It would also levy that tax on electronic cigarettes and related devices for the first time.
Cigarettes would also be subject to a $1-per-pack increase, from $1.66 to $2.66 per pack. The increase revenue would be earmarked to fund the state’s Children, Youth and Families Department for early childhood education programs.
The New Mexico Legislature begins its 2016 session on Jan. 19.