Plan To Spend Future Tobacco Money Raised Again In Senate

An estimated $4.5-Billion could be coming to the state in the next 25 years from tobacco companies because of the national lawsuit settlement. But some lawmakers think the state’s budget problems can’t wait. Senator Ken Jacob wants to sell the rights to about $1.2-Billion for $600-Million. Jacob doesn’t think the state is going to get $4.5-Billion dollars in the next 25 years because of declining amounts of smoking. He thinks the state is better off taking $600-Million and leaving buyers of statebonds with the risk of recouping their investments.