Taxing Sweet Drinks
Here's how it started - January 18:
A new bill in the Illinois Senate is taking aim at soda drinkers.
Senate Bill 9, proposed as the Sugar-Sweetened Beverage Tax Act, would place a penny-per-ounce tax on bottled sugar-sweetened beverages, syrups or powders sold or offered for sale to a retailer for sale to a consumer.
The tax would extend to any beverage with more than 5 grams of caloric sweetener. If passed, the tax would go into effect May 2017. Revenue from the soda tax would be split, with 98 percent going into the state’s general fund and the other 2 percent going toward the Tax Compliance and Administration Fund for the administrative costs of the Department of Revenue.
And it's expanded to this:
Illinois politicians are looking to pile on MORE taxes on beverages. Legislators in Springfield are considering yet another tax on beverages like teas, soft drinks, juice drinks, lemonade, sports drinks, energy drinks and even flavored waters!
This penny-per-ounce beverage tax will cost Illinoisans $1.44 for every twelve-pack and 68¢ for every two-liter. A price of a two-liter beverage would increase by nearly 70%!
If you live in Cook County, this will double the beverage tax that was just passed there. That means if this tax passes, people in Cook County will pay a beverage tax of $2.88 for every twelve-pack and $1.36 for every two-liter, on top of sales taxes.
Taxes, taxes, everywhere.
Out for now........
Matt
