Battle Over Tax on Sugary Drinks Takes Center Stage in Washington

Now watching

Next video starts in : 7 Play

Battle Over Tax on Sugary Drinks Takes Center Stage in Washington

Battle Over Tax on Sugary Drinks Takes Center Stage in Washington
Replay video
Up next

Mortgage Applications Drop, Tiffany Beats but Michael Kors Doesn't

Unlock your personal NFL Now stream by signing in to NFL.com

Battle Over Tax on Sugary Drinks Takes Center Stage in Washington

by TheStreet 1:03 mins

Battle Over Tax on Sugary Drinks Takes Center Stage in Washington

by TheStreet 1:03 mins

The battle over a soda tax is heading to Washington. Congresswoman Rosa DeLauro from Connecticut is slated to introduce a bill in the House of Representatives on Wednesday. Representative DeLauro said in an interview with Reuters she does not expect the bill will even come to a vote, but she wants to draw attention to what she described as a serious health problem across the nation. The proposed tax called The SWEET Act would place a one cent tax per 4.2 grams of caloric sweetener, which translates to about a 10 cent tax on a can of soda or 20 cents for a 20 ounce bottle. Just last month former New York City Mayor Michael Bloomberg's effort to ban large containers of sugary drinks was struck down by the New York State Court of Appeals. The last time a tax on sugary drinks took national stage was in 2009 in conjunction with the Affordable Care Act - back then, President Obama told Men's Health Magazine a tax on sugary drinks was, "an idea we should be exploring." TheStreet's Julie Cerullo reports.

TheStreet

Personal Finance

  1. 2:22

    How this woman tracked down her identity thief

  2. 2:23

    3 strategies that can help simplify your life

  3. 2:14

    Would you give your dog your kidney?

  4. 2:14

    5 unique summer jobs that pay great

  5. 1:03

    Money Minute: What employers are really looking for

  6. 2:31

    CEO cashes out to become a farmer

Market Movers

  1. 2:24

    Hormel goes organic with Applegate

  2. 11:42

    Dollar/Fed in focus; Tiffany investors see green; Spam maker goes organic

  3. 1:22

    IRS tax return breach

  4. 3:25

    FIFA soccer corruption probe

  5. 1:32

    Tiffany shines; Michael Kors hits 52-week low; Hormel eyes high

  6. 12:02

    Bulls' long holiday; Time Warner Cable's new deal; Amazon takes on Etsy