The Biden administration is considering proposals to ban menthol and reduce nicotine levels in cigarettes to non-addictive levels, the Wall Street Journal reported on Monday. If these policies move forward, they will almost certainly face legal challenges from the tobacco industry and take years to implement. Altria’s short-term outlook arguably has not changed. But the long-term consequences of these policies, if enacted, could be severe. Lowering nicotine levels has for decades been discussed as a potential endgame for combustible cigarettes. With less of this addictive chemical in each cigarette, more smokers would quit or pursue other forms of nicotine delivery, and prospective smokers may never develop the habit.