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REV-35
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1993-02-17
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REV-35 INCREASE EXCISE TAXES ON TOBACCO AND ALCOHOLIC BEVERAGES
Annual Added Revenues
(Billions of dollars) Cumulative
Addition to ----------------------------------------- Five-Year
CBO Baseline 1994 1995 1996 1997 1998 Addition
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Increase Cigarette
Tax to 48 Cents
per Pack 3.1 3.8 3.7 3.7 3.6 17.9
Increase All
Alcoholic Beverage
Taxes to $16.00 per
Proof Gallon 3.7 4.7 4.7 4.7 4.7 22.6
Index Cigarette
and Alcohol Tax
Rates for Inflation 0.2 0.5 0.7 1.0 1.2 3.6
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SOURCE: Joint Committee on Taxation.
NOTE: Estimates are net of reduced income and payroll tax revenues.
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