$13 a pack? NYC mayor wants highest cigarette prices in US

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By sheer coincidence (if you are completely ignorant to even the most basic concepts of economics), NY has the highest rate of cigarette smuggling in the country.

"The goal overall... is to reduce the number of smokers in this city by 160,000 by the year 2020", the mayor said.

Another bill will cap the number of tobacco retailer dealer licenses in each of the city's community districts at 50 percent of the current number, meaning that, if passed, the number of stores in your neighborhood slinging smokes will cut in half.

Mayor Bill de Blasio says he would like to see the the cost of a pack of cigarettes go from $10.50 to $13, the highest in the nation. "These companies have used the same playbook for decades, and we can no longer sit by while the next generation becomes addicted".

'We Have a Lot of Work' to Do
Thomas DuCharme Jr., the owner of an Erie McDonald's, said a worker there recognized Stephens as he came through the drive-thru. The employee took Stephens' money and waited for him to drive up to the next window before calling the police, DuCharme said.

Today de Blasio announced that he wants to make smuggling an even more financially lucrative option by jacking up the taxes on packs of cigarettes. Settlement payments are based on cigarette shipments.

Raising the minimum prices for all tobacco products, including cigarettes, and imposing a new 10-percent local tax on other tobacco products 2. Altria Group Inc., which sells Marlboro brand cigarettes in the US, reported on Feb.1 its domestic shipment volume declined about 3.5 percent in 2016, in line with its competitors.

The immediate impact of de Blasio's announcement on tobacco bonds issued by the New York City couldn't be determined. The legislation could face opposition from pharmacy chains, commercial landlords and store owners who derive significant revenue from tobacco sales, but could be supported by those who get to keep their licenses.

The City Council is slated to hold a hearing on the proposed legislation next week.

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