The vaping industry is bracing for what it's calling over-regulation. Proposed federal regulations could drive people who vape back to smoking old fashioned cigarettes.
It's called the Pre-Market Tobacco Application Process.
What it's going to cost for the small businesses to even stay in the market is ridiculous
They're targeting "vapers" and those in the vaping business with regulations costing in the millions. Americans for Prosperity has spoken out against this move by the federal government, saying it'll take thousands of hours for small businesses to file these applications and will cost more than a third of a million dollars per product.
It's expected that most of the small businesses will have to shut down.
Those that remain may only survive with a dramatic price hike.
In a survey by e-cigarette brand V2, about half of those who vape now said they may vape less and turn back to smoking if the prices go up.
This means healthcare costs could continue to skyrocket. The American Cancer Society reports between 2000 and 2012, tobacco-related healthcare hit $133 billion.