County officials vote to repeal Chicago-area soda tax

Chicago Rethinks Soda Tax

Chicago Rethinks Soda Tax

Former McDonald's USA CEO Ed Rensi sounds off on Illinois' soda tax.

Cook County Board President Toni Preckwinkle, an advocate for the tax, said in a statement that she is "disappointed" by the vote and that it is now up to "commissioners to choose our direction on revenue".

The measure likely to be endorsed by the county board's finance committee Tuesday would end the tax on December 1. "It's not too late for Philadelphia's elected officials to follow suit and repeal our city's regressive, discriminatory and under-performing beverage tax". "Beverage taxes are really a money grab that has nothing to do with public health".

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"Nothing good has come from Cook County's beverage tax".

Since the tax went into effect on August 2, 2017, it has generated $16m in additional revenue for the county, a spokesperson from Preckwinkle's office told BeverageDaily.

"But it is also a stark reminder that public health benefits alone are not enough to enact and sustain a new sweetened beverage tax", the coalition said in a statement. They also said that the tax would've helped combat sugary beverages.

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That "incorporates more realistic analysis of how people think and behave when making economic decisions", it said. Thaler said he will likely use the prize money of 9-million-kronor ($1.1-million) in irrational ways.

Preckwinkle said tax fatigue was part of the problem.

Opponents of the tax said that it violated IL law as it did not apply evenly to all beverages.

The Chicago Tribune reported that the American Beverage Association and store owners spent millions pushing for repeal, while soda tax crusader Michael Bloomberg backed an even more expensive ad campaign to preserve the tax.

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Forecasts for euro zone, Japan, China, emerging market Europe and Russian Federation were all revised upwards. The Goods and Services Tax (GST) was implemented in India from July 1 this year.

The tax passed past year when Board President Toni Preckwinkle cast the deciding vote after commissioners deadlocked on the measure.

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