Corp to absorb new soda tax, continue charging $1
The Corp plans to absorb a new tax on sugared drinks as a business cost, maintaining the price of 20 ounce bottles at one dollar.
The law, which goes into effect on October 1, levies a six percent sales tax on sodas, sports drinks, and other sweet drinks sold in D.C. The revenue from the tax will go towards mandatory physical education programs and healthier lunches at schools.
“For our management team, the choice here was a simple one: pass on a price increase to our fellow students or absorb that increase and continue to sell Coke at the cheapest rate in the region,” Corp CEO Brad Glasser (COL ’11) wrote in an email. “It’s just a little sign of our appreciation for all the support the Georgetown community has shown the Corp.”
Good work, Students of Georgetown, Inc! If you could only do something about those long lines at Vittles.
Photo: Flickr user “petesfamily“