New Smoking Law Approved

Smokers are quitting and payday lenders are smoking

Today the House of Representatives approved a bill passed by the Senate giving the federal government sweeping new powers to regulate tobacco. It has now been 50 years since the Surgeon General first warned about the hazards of smoking.

In the wave of recent tax hikes, smokers who haven’t given up the habit are looking for fast cash to buy cigarettes.  New government regulation of tobacco will inevitably result in further price increases and more boons for personal loan companies.

Actions speak louder than words, but still . . .

President Obama – a smoker or ex-smoker himself, depending on the day — hailed the bill, which he said “truly defines change in Washington.” He congratulated lawmakers, saying that for more than a decade, leaders of both parties have fought for the bill over the strenuous opposition of tobacco companies.

“We’ve known for years, even decades, about the harmful, addictive and often deadly effects of tobacco products,” the President said. “Each year, Americans pay nearly $100 billion in added health care costs due to smoking. Each day, about 1,000 young people under the age of 18 become regular smokers. . . Along with legislation to protect credit-card owners from unfair rate hikes, homeowners from mortgage fraud and abuse and taxpayers from wasteful defense spending, this kids’ tobacco bill would be the fourth piece of bipartisan legislation that I’ve signed into law, over the last month, that protects the American consumer and changes the way Washington works and who Washington works for. S o I look forward to signing it.” ... click here to read the rest of the article titled "New Smoking Law Approved"