A bill to amend the Internal Revenue Code of 1986 to increase the excise taxes on cigarettes to 32 cents per pack.

Amends the Internal Revenue Code to increase the excise tax on cigarettes from: (1) $12 ($10 during 1991 or 1992) to $16 per thouand for small cigarettes; and (2) $25.20 ($21 during 1991 or 1992) to $33.60 per thousand for large ones.

Imposes a tax on the floor stocks of cigarettes removed before the effective date of this Act, and on certain imported cigarettes entered after such date.

(Effectively raises the excise tax on a pack of cigarettes from 20 cents to 32 cents.)