PHILADELPHIA (CBS) — Philadelphia beverage tax receipts are in for June and they, once again, fell short of projections, but city officials continue to express confidence.
The tax has brought in $6.9 million in June, just shy of the hoped-for $7 million.READ MORE: Drag Racing On Temple University's Campus Turns Violent, Police Say
That makes total revenue for the first six months of the tax $39.3 million, about half a million short of the projection which had been revised downward twice.
Still, city spokesman Mike Dunn says there’s no cause for concern.READ MORE: 2 Teens Injured In West Philadelphia Shooting, Vehicles, Apartment, Struck By Gunfire, Police Say
“We have consistently said, and most economists agree, you need a full 12 months of data before you can gauge how a new tax is going to turn out,” he said.
Dunn says revenue officials continue to project the tax will bring in $92 million this fiscal year, when the tax will be collected for a full 12 months.MORE NEWS: Segura 2 HRs, Nola Sharp, Phillies Beat Mets, Win 4th In Row
Tax opponents have seized on under-performing receipts to argue it is not a stable base for funding the mayor’s anti-poverty program, which includes universal pre-K, community schools and a rebuild of city facilities.