Op-Ed | Albany wants to tax a product the FDA just approved. That should worry every small business owner. | amNewYork

"Governor Hochul's proposed budget includes a 75 percent wholesale excise tax on nicotine pouches, which would significantly impact neighborhood retailers who rely on this revenue."

"The FDA authorized 20 ZYN nicotine pouch products, determining that their benefits to public health outweigh the risks and that they contain fewer harmful chemicals than cigarettes."

"Youth use of nicotine pouches nationally stands at less than 2 percent, a fraction of e-cigarette use, indicating that concerns about youth access are being addressed."

"Taxing a product the FDA authorized as a safer alternative at the same rate as the product it's designed to replace does not make scientific sense."

Governor Hochul's budget proposal includes a 75% wholesale excise tax on nicotine pouches, similar to that of cigarettes. This tax aims to generate $18 million in revenue but poses significant challenges for neighborhood retailers. The FDA has authorized nicotine pouches, finding them less harmful than cigarettes and beneficial for public health. Youth usage remains low at under 2%. Taxing these pouches at the same rate as cigarettes contradicts scientific findings and could negatively impact local businesses reliant on this revenue stream.

Read at www.amny.com