Illinois Could Be First State With Soda Tax

Taxes on sugary beverages have been put in place across the country in some cities but never in an entire state.... for now. 

Senate Bill 9, proposed as the Sugar-Sweetened Beverage Tax Act would:

Place a penny-per-ounce tax on bottled sugar-sweetened beverages, syrups or powders sold or offered for sale to a retailer for sale to a consumer.

In other words if this bill passes a can of pop would cost 12 cents more, a 2 liter would go up 66 cents, and a case would see an increase just shy of 3 dollars.

Proponents of the bill say the new tax could raise $560 million dollars a year for a state that is already in financial trouble. Those who oppose the bill cite the fact that the brunt of the tax will be paid by those who are already in financial ruins. Studies show that the more money you have the less pop you drink. This means that those in lower tax brackets will be putting in a disproportionate amount in compared to those better off.

Another thing to consider are those residents in Cook County. The county board has already passed the tax, which will go into effect July of this year.  If this state bill passes the residents of Cook County will be hit with a double tax for their beverages.

The bill will be voted on later this month and if it passes will go into effect May 2017. Stock up now if you're worried.