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1 H.R. 4742, Protecting American Lungs Act of 2019, as Ordered Reported by the House Committee on Ways and Means on October 23, 2019 1 (November 18, 2019)

handle is hein.congrec/cboprlng0001 and id is 1 raw text is: j Congressional Budget Office Cost Estimate Revised November 18, 2019 ty rnscai -ear, EIhhIOlnS oT uomars 2020 2020-2024 2020-2029 Direct Spending (Outlays) Revenues Increase or Decrease (=) in the Deficit 438 -438 4,935 -4,935 9,882 -9,882 The bill would * Impose a new excise tax on nicotine used in vaping and for other purposes, which has been extracted, concentrated, or synthesized, at a rate of $50.33 per 1,810 milligrams of nicotine * Make applicable to newly taxable nicotine the same provisions that apply to tobacco products, including packaging requirements; provisions relating to purchase, receipt, possession, or sale; and provisions relating to civil and criminal penalties * Subject manufacturers of newly taxable nicotine to the same occupational tax and other requirements that currently apply to manufacturers of tobacco products Estimated budgetary effects would primarily stem from * The imposition of the new excise tax on nicotine The Congressional Budget Act of 1974, as amended, stipulates that revenue estimates provided by the staff of the Joint Committee on Taxation (JCT) will be the official estimates for all tax legislation considered by Congress. As such, CBO incorporates those estimates into its cost estimates of the effects of legislation. All of the estimates for the provisions of H.R. 4742 were provided by JCT. Detailed estimate begins on the next page.

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