The issue has reached a new climax. - From TheStreet
Large 2-liter bottles of Pepsi and Mountain Dew, made by Pepsico (PEP) , are disappearing from the shelves of Philadelphia stores to counter a so-called soda tax that charges based on ounces, and being replaced with smaller bottles and cans of the drinks.
"Because of the costly Philadelphia Beverage Tax, hard-working, value-oriented families are less able to afford larger package sizes and multi-packs, where the tax burden is the greatest," said Pepsico in a statement to TheStreet Wednesday.
"We are offering the products and package sizes working families are more able to afford because we believe this will give our retail and food-service partners the best chance to succeed in this challenging environment and will minimize the chance of product going out of date.
1 of this year and adds 18 cents to the cost of a 12-ounce drink, $1.08 to a six-pack or $1.02 to a two-liter bottle, and aims to raise $91 million annually in revenue to be used for pre-K expansion, community schools, reinvestment in parks and recreation centers and beef up Philadelphia's general fund.
According to in Philly.com, sales of the larger Coke products have been down, too.