For 2nd Month, Revenue Generated By Philly's Soda Tax Exceeds Expectations
PHILADELPHIA (CBS) -- The city of Philadelphia has announced preliminary figures for how much money was made during the second month of the city's beverage tax, and for the second month in a row revenues have exceeded projections.
The city's department of revenue says the city received $6.4-million, which is slightly higher than expected for February.
Pepsi Pulls 12-Packs, 2-Liters From Shelves Over Beverage Tax
Payments were due by Monday of this week, bringing the two month total of the Philly Beverage Tax to $12.3-million.
The news comes just days after Pepsi announced they would stop selling 12-packs and two liter bottles in the city, citing layoffs they claim were necessary because of lost revenue from the tax.
City Officials Prepare To Increase Enforcement Of Sweetened Beverage Tax
The city has countered that the soda industry had been trending towards smaller sizes well before the tax passed, and that they are well on their way towards reaching the goal of raising $91-million from the tax this year.
