The revenue is projected to stem from the passage of Measure 108, which raises tobacco taxes and creates a new tax on vaping products.
The Oregon Health Authority tracked 23 vaping-related lung injuries across the state by mid-March.
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Oregon lawmakers faced their first resistance on Thursday to a proposal that would ban flavored vaping products in response to thousands of vaping-related illnesses and dozens of across the country.
Gov. Kate Brown on Monday announced a slate of medical professionals, legislators and public health experts to address vaping-related deaths and illnesses in Oregon.