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Health care package will require "sin taxes." (President Clinton's health care reform plan)

A preliminary version of the President's health care reform plan has been released, and includes unspecified "sin taxes" as a source of revenue. According to an article in the Wall Street Journal, the Clinton Administration aims to increase revenue from sin taxes by $15 billion a year.

Clinton's health care reform plan is estimated to cost $320 billion over the next seven years, according to estimates in a draft of the plan provided to Members of Congress.

Sin taxes represent the only substantial tax increase required by the plan, but analysts note that these taxes will have to be enacted as early as January 1994 to keep the plan on track. Without the revenue from these taxes, the health care reform plan would violate the deficit reduction plan, since it would cause the federal deficit to grow slightly rather than shrink in the next five years.

Previous information had indicated that beer would be excluded from any sin tax package, but there have been many contradictory reports in recent months. According to the latest information, the new taxes are likely to be raised on cigarettes and "possibly" alcoholic beverages.
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Publication:Modern Brewery Age
Date:Sep 20, 1993
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