Philadelphia’s tax on sugary drinks has made soda more expensive than beer in the city. A new study from the Tax Foundation found that the 1.5-cent per ounce tax has fallen short of revenue projections and has forced some Philadelphians to drive outside the city to buy groceries. It’s also hit the working man. PepsiCo (NYSE:PEP) is laying off up to 100 workers because of the tax, and in addition a number of small businesses have scaled back hours due to falling revenues thanks to declining soda sales.

 

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