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Threat of "sin tax" zaps stock market.

Anheuser-Busch stocks, among many others, were temporarily jolted February 22 by reports that the Clinton administration may propose a "sin tax" to help pay for the president's health care program.

Administration officials have floated the idea of such a tax on alcohol and tobacco products for some time. So far, the President has confirmed that taxes on tobacco, but not necessarily alcohol, may be considered.

Anheuser-Busch had quickly recovered its losses by the end of the week. "We support the President's deficit reduction package as it now stands," said August A. Busch 3d, president of the Anhesuer-Busch Companies, who added that the President had a "bold approach."
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Publication:Modern Brewery Age
Date:Mar 8, 1993
Words:107
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