Taxing Soda to Pay for Health Plan?
Looking for ways to help pay for President Obama’s national health care plan, Senate leaders are considering imposing new federal taxes on soda and other sugary drinks.
On May 12, the Senate Finance Committee listened to proposals from thirteen experts on ways the government could raise funds to pay for Obama’s health care reform plan.
Highly recommended by the Center for Science in the Public Interest, a tax on soda of once cent per 12-ounce can would raise about $1.5 billion per year, while a tax of one cent per ounce would raise about $17 billion per year. As an added benefit, the Center contends, “The higher rates would reduce consumption and help slow the obesity epidemic.”
Taxing Soda to Pay for Health Plan?
