Obama Signs Tobacco Regulation Law, Saying It Will Save Lives

June 22 (Bloomberg) --President Barack Obama signed historic legislation granting the U.S. government authority to regulate tobacco products, saying it will save lives and help stem the spiraling cost of health care in the U.S.

Obama signed the legislation at a White House ceremony that provided his second opportunity of the day to promote his plan to overhaul the U.S. health-care system.

The law “represents change that’s been decades in the making,” Obama said. The president acknowledged his own struggle with cigarettes, saying the legislation will help stop teenagers from starting to smoke.

“I was one of these teenagers, so I know how difficult it is to break this habit when it’s been with you for a long time,” he said.

To contact the reporter on this story: Edwin Chen in Washington at echen32@bloomberg.net