In what is quickly turning into another high-stakes policy battle to be decided by California voters, tobacco giants Philip Morris and R.J. Reynolds are forking over tens of millions of dollars to defeat a new tobacco tax on the June ballot.
Proposition 29, which would boost taxes by $1 a pack of cigarettes to $1.87, would raise about $735 million annually, most of which would go toward cancer research.
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Tobacco industry gearing up to take down California cigarette tax initiative
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