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.
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