WASHINGTON — A bill approved by the House yesterday that would ultimately reduce by $160 million the tobacco settlement payments that states use to repay tobacco bonds during the next four years should have no ill effect on tobacco bonds, analysts and muni market participants said. Some said the same about a 62-cent federal tax on tobacco products that went into effect this week.

The House voted 298 to 112 to approve the bill that would allow the Food and Drug Administration to regulate tobacco products, with 70 Republicans crossing the aisle to vote in favor of the bill and eight Democrats voting against it. Democratic leaders in the House immediately began pushing yesterday for Senate passage of the bill, which failed in previous sessions to be approved by both chambers.

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