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Article: Altria Group and Philip Morris USA Express Great Disappointment on the Lack of FDA Regulation in the FSC/ETI Tax Bill.
- Article from:
- Business Wire
- Article date:
- October 11, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Today, the Senate followed the House in approving a conference agreement on the Foreign Sales Corporation/Extraterritorial Income Act (FSC/ETI) that fails to provide the Food and Drug Administration (FDA) with any authority to regulate tobacco products.
"This lost opportunity is a huge disappointment, not only for Altria Group and our domestic tobacco company, Philip Morris USA, but for all of those who hoped to see a coherent, comprehensive national tobacco policy in this country," said Steven C. Parrish, Senior Vice President, Corporate Affairs, Altria Group.
"The failure to pass this legislation with all its benefits to consumers, public ...