- Associated Press - Tuesday, June 13, 2017

PHILADELPHIA (AP) - 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 (https://bit.ly/2syCe4l ) 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

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Information from: The Philadelphia Inquirer, https://www.inquirer.com

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