Buying your favorite sodas may soon get a lot more expensive

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Buying your favorite sodas may soon get a lot more expensive
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Sugary soft drinks are coming under attack again.

Philadelphia’s mayor is proposing a 3 cents per ounce tax on soda, iced tea and other sugary drinks, according to NPR. The plan would tax the beverage companies, which could lead to higher prices.

Read more: 5 serious health risks of drinking diet soda

Beverage companies fight latest soda tax proposal 

Look at it this way: Under this proposal, there would be a 36-cent tax on a 12-ounce can of soda.

The city council will not vote on the matter until June, but beverage giants Coca-Cola and Pepsi have been united against it from the start.  

Where would the money go? 

This fight is a little different than previous ones – because this soda tax is different.

Rather than trying to reduce how much soda people drink for health reasons, Mayor Jim Kenney says the tax will fund universal pre-K and other projects, adding up to $400 million over five years.

Soda sales slump 

And this latest debate comes as soda sales have dropped for more than a decade.

People are increasingly turning to flavored waters and juices with fewer calories than soda, Fortune reported.

Read more: Why you might want to give your soda can a rinse

Would you support the soda tax?

Only time will tell what happens in Philadelphia. If the soda tax passes, will consumers be willing to pay a higher price or will they just buy their soda outside city limits?

Take our Twitter poll and let us know what you think about the proposal.

 

 

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Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, MichaelSaves.com.
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