I'm shocked. SHOCKED!!! The demons in Philly overestimated the tax revenue. Of course demon Kenney is as arrogant as ever. Why wouldn't he be? He's in Philly. Demons never get challenged in Philly. Hell, Soros just bought the DA seat for a little over $1m.
The city will lower its projections for beverage tax revenue this fiscal year, saying the tax will bring in less than had been anticipated.
The 1.5-cent-per-ounce tax on sweetened beverages, in effect since January, has brought in $25.6 million, but will fall short of a projected $46.2 million for fiscal year 2017, which ends June 30. While the size of the shortage is unclear, to hit its projected target, the city would need to collect $20 million from May through June, a near-impossibility, the Kenney administration recognized, given that the highest monthly revenue so far has been $7 million in March.
http://www.philly.com/philly/news/city-soda-tax-revenue-to-fall-short-20170613.html
The city will lower its projections for beverage tax revenue this fiscal year, saying the tax will bring in less than had been anticipated.
The 1.5-cent-per-ounce tax on sweetened beverages, in effect since January, has brought in $25.6 million, but will fall short of a projected $46.2 million for fiscal year 2017, which ends June 30. While the size of the shortage is unclear, to hit its projected target, the city would need to collect $20 million from May through June, a near-impossibility, the Kenney administration recognized, given that the highest monthly revenue so far has been $7 million in March.
http://www.philly.com/philly/news/city-soda-tax-revenue-to-fall-short-20170613.html
