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.
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.
“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.
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.