Colorado Wants To Raise Tobacco + Vaping Tax
Colorado's Governor, Jared Polis, wants to raise the tax on tobacco and vaping products in an attempt to dissuade young people from picking up the habit.
The proposal calls for an increase of $2.69 per pack of cigarettes and a 62 percent tax on vaping products.
Cigarette smokers in Colorado currently pay $1.75 tax per pack higher than the national average of $1.66 per pack. Vaping products, as well as other tobacco products, would be taxed at the 62 percent rate.
The tax, which will go to voters in November could raise $300 million for programs such as early childhood education, quitting smoking, mental health as well as other services.
A study done recently by the state suggests 27% of minors use tobacco products including vaping products. By increasing the tax it is hoped it will price those items out of the reach of younger people.
The average cost of a pack of cigarettes in Colorado is $5.60. The tax would increase it to $8.19.
Colorado last approved a rise in the tobacco tax in 2004.