PHILADELPHIA (AP) — Philadelphia's new tax on sweetened beverages is slightly exceeding expectations.
Figures released Thursday by the city's Department of Revenue show the tax brought in $6.4 million in February. The city had projected the tax would generate $6.3 million for the month.
The 1.5-cent-per-ounce tax on sweetened and diet beverages funds pre-K and community schools. It also will help pay to renovate recreation centers, libraries and parks.
The tax generated $5.9 million in January, more than double its prediction of $2.3 million.
The tax is imposed at the distributor level. If fully passed onto the consumer, it amounts to $1.44 on a six-pack of 16 ounce bottles.