Editorial Says Tobacco Taxes Could Hurt State Budget
An Orange County Register editorial states that California's decision to borrow $4.4 billion against uncertain revenue from a tobacco settlement might force officials to tap the state's general fund. The settlement funds might not become available because they are linked to shrinking tobacco sales. The editorial calls for a moratorium on tobacco taxes, arguing that they would "further depress cigarette use, making the bond repayment problem worse."
- "Editorial: California Hooked on Tobacco Taxes" (Orange County Register, 2/21).