Lawmakers in New Jersey want to ban menthol cigarettes, but that loss in tax revenue could jeopardize how the state pays hospitals for treating uninsured patients
New Jersey lawmakers want to ban menthol cigarettes, an almost unprecedented public health policy experts believe would hasten declines in smoking and save the state billions of dollars in health costs.
Money generated from cigarette taxes represents a key source of revenue for New Jersey, having generated $611 million in the 2018 fiscal year, according the state‘s annual report. Roughly two-thirds of that revenue is already spoken for because of a 2009 law requiring the first $391.5 million to flow to an off-budget fund that subsidizes New Jersey hospitals for treating uninsured patients, in addition to backing some of the state's Medicaid and Medicaid and Child Insurance programs.
A menthol ban would have the effect of weakening and possibly eliminating that cushion as New Jersey pays down its cigarette tax bonds over the next decade, according to public health specialists, budget experts and ratings agencies interviewed by POLITICO. That complicates the outlook for legislation designed to yield improvements to public health while eliminating long-term health care costs incurred by the state.
“There are ways to deal with any near-term shortfall,” Conaway said in an interview. “The government, writ large — particularly the governor and the Legislature — will explore ways for dealing with the challenges.” A menthol ban could amplify the risk of that happening, said Marcy Block, a senior director at Fitch Ratings who analyzes New Jersey’s cigarette tax revenue bonds, adding that similar efforts have failed in previous legislative sessions.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Who has the best cheap car insurance in New Jersey?Car insurance in New Jersey isn't cheap. But, drivers can save with GEICO, USAA and Travelers, and shop around to get their best rate.
Leer más »
Prosecutors seize New Jersey man's rifle over his alleged anti-SemitismProsecutors seize a New Jersey man's rifle, accusing him of antisemitism and advocating for the killing of Jewish people, court records show
Leer más »
Skincare Legend Augustinus Bader on The Body Cream, His New Cult ClassicSkincare legend BaderAugustinus shares what skincare principles to stick to this fall, plus more.
Leer más »
Holiday Classics by Frank Sinatra, Brenda Lee Get Animated in New Videos From Universal MusicThe decades-old Christmas songs of Frank Sinatra, Brenda Lee and more are getting the music video treatment.
Leer más »
Andreessen Horowitz boosts its crypto bet with new 'start-up school'The Silicon Valley investment firm is launching a cryptocurrency start-up school to help entrepreneurs get blockchain start-ups off the ground.
Leer más »