Reject Proposed 75% Tax on NJ Vapor Industry
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NJ Governor Phil Murphy outlined his proposed 2019 budget which includes a 75% "Vape Tax", a measure in which was designed to increase revenue for the expanded spending budget. However, instituting any tax on the industry would likely take away MOST of the revenue the vapor shops, wholesalers and labs already contribute to an almost bankrupt NJ. The industry currently contributes millions of dollars in sales, property, and income taxes as well as municipal license fees. By enacting this tax, vapor businesses and all the jobs held by the New Jerseyans that they employee would unquestionably disappear.
In order to find a clear example of the results a tax hike like this would bring, one would only have to look across the Delaware River to Pennsylvania. PA enacted just a 40% tax on its vapor industry a year ago, which has closed the doors of over 100 brick and mortar stores in the state. More are expected to shut down in the coming months. These are peoples lives, their incomes, their futures.
Local mom-and-pop brick and mortar shops would not be able to come close to competing to the online vapor stores that would skirt the tax. Another likely benefactor would be that of Big Tobacco, who have seen their profits decline due to smokers making the switch to a less harmful alternative.
This tax would do the opposite of help subsidize New Jersey and it's effort to become financially solvent. It would close hundreds of businesses and put thousands of people out of the workforce while taking away millions of dollars in revenue that vapor companies currently contribute to the state of New Jersey. Reject the tax on the NJ vapor industry!
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