Taxes

The next move against vaping: big federal taxes

Photo: Eva Hambach/AFP/Getty Images

New York Reps. Tom Suozzi (D) and Tom King (R) will announce Thursday a bill that would introduce a federal tax on e-cigarettes and codify into law a ban on flavored e-cigarette and tobacco products.

Why it matters: It's the only bipartisan federal legislation that introduces a tax on e-cigarettes.

Trump adviser proposes eliminating taxes on all teachers

Blackstone CEO Stephen Schwarzman
Blackstone CEO Steve Schwarzman Photo: Gary Gershoff/WireImage/Getty Images

Trump adviser and Blackstone CEO Steve Schwarzman proposes making "teachers the only tax-exempt occupation in the United States," reports Recode.

The big picture: Schwarzman tells Recode many Americans are ill-prepared as the world transitions to a knowledge economy. Two-thirds of the U.S. workforce has a high school education or less. As a tax-exempt profession, he argues, teaching would attract "very high-quality people" and "they would be marked apart as a prestige institution."

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