What's the cost of the city's new sweetened-beverage tax at Temple University per semester?The compassion of taxation.
And students are going to feel it.
Board rates will rise an additional 4.8 percent for 2017-18 solely because of the 1.5-cent-per-ounce sweetened-beverage tax, which went into effect this year, the university said. The tax was enacted to help fund parks, recreation centers, and early childhood education. Heated debate over it continues, with PepsiCo having announced planned layoffs and retailers reporting steep losses.
The total impact of the new tax is estimated to be $400,000 per semester, said Ken Kaiser, Temple's chief financial officer. The university will roll back the board increase if the tax is repealed, he said.
"This is another example of the damaging impact this tax is having on Philadelphia families," said Anthony Campisi, a spokesman for Ax the Philly Bev Tax Coalition, made up of a number of Philadelphia businesses and residents, many of them involved in the soda industry. "It’s ironic that a tax the mayor sold on the basis of expanding educational access is now going to be making higher ed less affordable for students."
Thursday, March 16, 2017
Philadelphia Inquirer reports:
Posted by Steve Bartin at 1:08 PM