Have you a sex problem? Please visit our site:fesmag.com/medic
Monday, 17 March 2014 03:39
JEFERSON CITY, Mo. (AP) - Missouri had expected to receive about $130 million this April under an annual settlement payment from tobacco companies.
But it looks like Missouri will get less than half that amount because of an arbitrator's ruling that state officials failed to diligently enforce the settlement a decade ago.
House and Senate committees heard testimony this past week on legislation that the attorney general's office and major tobacco companies both say is necessary if the state wants to negotiate a smaller loss of tobacco funds. The bill would, in essence, force a price hike on some cheaper cigarettes that compete with the brands made by big tobacco companies.
House Budget Committee Chairman Rick Stream says the bill faces opposition and definitely won't pass in time to reverse this year's reduced tobacco payment.
Thursday, 13 March 2014 02:17
Missouri is losing millions of dollars from the 1998 tobacco settlement because of a legislative loophole that allows smaller tobacco companies to keep a competitive edge in the state. The St. Louis Post-Dispatch reports that Missouri is the only one of the 46 states involved in the settlement that hasn't acted to stop smaller tobacco companies from recouping the money they pay into a settlement escrow fund.
Big tobacco companies say that gives the smaller firms a six-dollar per carton pricing advantage. Senate Appropriations Chairman Kurt Schaefer says it cost Missouri almost $70 million in settlement funds this year and could cost the state as much as $2 billion over the next decade. For the fourth year in a row, the Columbia Republican has introduced legislation to close the loophole.
The state House is considering a similar bill. Right now, both bills are in committee.
Monday, 17 February 2014 12:40
JEFFERSON CITY, Mo. (AP) - The state of Missouri faces the loss of nearly $70 million this year in tobacco settlement payments due to a unique pricing advantage enjoyed by some cigarette companies.
The St. Louis Post-Dispatch reports that Missouri is the only state which signed a landmark settlement agreement more than 15 years ago to not eliminate a loophole allowing small cigarette manufacturers and retailers to avoid making escrow payments. The payments are required of companies that didn't sign the settlement.
State lawmakers have refused requests by two Missouri attorney generals over the past 12 years to neutralize the pricing advantage. And a federal arbitration panel found that Gov. Jay Nixon neglected to file lawsuits against the smaller tobacco companies to force them to pay into the escrow fund when he was attorney general.
Missouri could also lose tens of millions in tobacco money each year for at least seven years.