Tuesday, April 01, 2003

Tennessee also squeals at tobacco money pinch

This article notes that Tennessee will suffer without the tobacco money which Philip Morris now Altria claims it cannot pay because of the $12 billion bond required to appeal the judgment in that amount entered by an Illinois Court.

So, the state governments used trial lawyers to generate tobacco money (instead of higher taxes), but now face losing the tobacco money to other trial lawyers and start to worry about the budget. Maybe the tobacco money never should have been part of their budget-balancing acts in the first place.

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