“The U.S. election will likely be a net negative for tobacco companies with exposure to the U.S. market regardless of the outcome, according to Goldman Sachs. The investment bank recently took an in-depth look at the key tobacco policy issues potentially at stake, including greater excise taxes, flavor bans, a federal nicotine cap on cigarettes and possibly a push for raising the minimum tobacco purchasing age to 25. Goldman Sachs says the highest likelihood is for greater excise tax increases, regardless of the election outcome, given the severity of government budget shortfalls in the wake of Covid-19.”
BILL TARLING — Reminder that the higher tobacco taxes don’t actually affect tobacco companies and cigarette sales as much as is usually claimed; since the Tobacco Companies usually just pass on that tax to to the consumer end (and may even additionally increase the retail price to hide the higher profit charge in with the tax increase)
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Goldman Sachs: U.S. Election a Net Negative for Tobacco
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