The tobacco industry faces a crucial vote in California where Proposition 29 could slap a...
Jun 2 2012, 10:43 ET
The tobacco industry faces a crucial vote in California where Proposition 29 could slap a $1-a-pack tax on cigarettes and other tobacco products, with proceeds going to fund cancer research. Industry players Altria Group (MO), Reynolds American (RAI), and others have spent close to $50M in an attempt to prevent a yes vote in the state from spurring additional anti-smoking tax measures to crop up around the U.S. Poll watchers say the vote set for June 5 in the Golden State is too close to call.