Philadelphia Lowers Soda Tax Revenue Projections - NBC 10 Philadelphia

Philadelphia Lowers Soda Tax Revenue Projections

The Philadelphia Inquirer reports that the tax in effect since January has brought in $25.6 million, but will fall short of the projected $46.2 million total for the fiscal year that ends June 30.

    processing...

    NEWSLETTERS

    Philadelphia Lowers Soda Tax Revenue Projections

    The city is lowering its projections for revenue from Philadelphia's new tax on sweetened drinks, saying it will bring in less than had been anticipated.

    The Philadelphia Inquirer reports that the tax in effect since January has brought in $25.6 million, but will fall short of the projected $46.2 million total for the fiscal year that ends June 30.

    So the mayor's office says it will lower the revenue projection in a five-year plan to be presented later this month. But city spokeswoman Lauren Hitt said officials still believe they will hit their fiscal year 2018 projection of $92 million.

    The tax is imposed at the distributor level, and if fully passed on to the consumer, amounts to $1.44 on a six-pack of 16-ounce bottles