Taxes on production and imports: Federal: Excise taxes: Tobacco
B2002C1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.66
Year-over-Year Change
-43.02%
Date Range
1/1/1929 - 1/1/2023
Summary
This economic trend measures federal excise taxes on tobacco products in the United States. It is an important indicator of government revenue and public health policy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Taxes on production and imports: Federal: Excise taxes: Tobacco trend represents the dollar value of excise taxes collected by the U.S. federal government on the sale of tobacco products. It is a key metric for analyzing government revenue streams and the impact of tobacco taxation on public health and consumption.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis based on tax revenue figures.
Historical Context
This trend is closely monitored by policymakers, public health officials, and market analysts to assess the fiscal and social impacts of tobacco taxation.
Key Facts
- Tobacco excise taxes accounted for $13.5 billion in federal revenue in 2021.
- The U.S. raised tobacco taxes by $1.01 per pack in 2009 to fund the Children's Health Insurance Program.
- Tobacco excise taxes have declined by 31% since 2000 as smoking rates have fallen.
FAQs
Q: What does this economic trend measure?
A: This trend measures the dollar value of federal excise taxes collected on the sale of tobacco products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for analyzing government revenue sources, the impacts of tobacco taxation on public health, and broader trends in tobacco consumption and industry activity.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis based on federal tax revenue figures.
Q: How is this trend used in economic policy?
A: Policymakers, public health officials, and market analysts closely monitor this trend to assess the fiscal and social impacts of tobacco taxation and consumption.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis with a lag of several months, so there may be delays in reflecting the most recent changes in tobacco excise tax revenue.
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Citation
U.S. Federal Reserve, Taxes on production and imports: Federal: Excise taxes: Tobacco (B2002C1A027NBEA), retrieved from FRED.