Posted on December 14, 2016 | Business Insider by Kate Taylor
A 1-cent-per-ounce soda tax could raise almost $1 billion in revenue every year if more cities implement taxes on sugary drinks, according to a new study.
On Wednesday, Harvard University’s T.H. Chan School of Public Health released a study analyzing what would happen if the 15 largest US cities with the ability to pass a 1-cent-per-ounce tax on sugary drinks did so.
Researchers found the new laws would result in a nearly 20% drop in soda consumption in cities including Los Angeles, Detroit, and Denver. The study, which used computer modeling to project the impact of the proposed taxes, predicted that cities could generate a cumulative $942 million per year in revenue from the taxes.