An attempt to raise the taxes on tobacco products in West Virginia was defeated today.
The House Finance Committee failed to advance SB 420, a bill that would have raised taxes on cigars from 7 to 12 percent of the wholesale price. In addition, the bill would have raised the taxes on cigarettes from 55 cents to $1.55 per pack.
House Finance snuffs out cigarette tax increase (SB420), leaving $170 mil hole in budget, with no options to fill it.
— Phil Kabler (@PhilKabler) March 3, 2016
The bill was proposed in order to help a close a $384 million budget deficit. While the bill has died for now, the International Premium Cigar & Pipe Retailers Association (IPCPR) has warned that it could come back after the state’s primary in May.