Tobacco tax law cost U.S. billions in revenue: report

WASHINGTON (Reuters) - A 2009 law that raised federal taxes to discourage smoking cost the U.S. government billions of dollars in lost revenue as manufacturers relabeled products and consumers shifted to cheaper pipe tobacco and large cigars, the U.S. Government Accountability Office said in a report released on Tuesday.

from Reuters: Business News http://ift.tt/1qjKQ43