, Nov 5 (Reuters) – The California city of
Berkeley overwhelmingly approved the first U.S. ballot measure
to tax sugary soft drinks, but while supporters hope it will
unleash similar efforts nationwide, organizers of the measure
said their grassroots effort would not be easy to duplicate.
The success on Tuesday by famously liberal Berkeley follows
a string of failures to tax soda, including in nearby Richmond,
California, in 2012.
BERKELEY Calif/ NEW YORK (Reuters) – Voters in Berkeley, California, overwhelmingly approved the first U.S. ballot measure raising taxes on sugary drinks, despite heavy spending by the U.S. soda industry to keep it from passing.
The new law, approved by 75 percent of those voting, will impose a 1-cent-per-ounce tax on sugary beverages, which supporters of the measure tie to a rise in diabetes.
By Ann Saphir
(Reuters) – The lone Federal Reserve policymaker to dissent against the U.S. central bank’s decision this week to end its bond-buying stimulus said Friday that the Fed was risking its credibility by failing to take action against a worrisome drop in inflation.
Not only is there no evidence that inflation is moving back toward the Fed’s 2-percent goal, Minneapolis Fed President Narayana Kocherlakota said in a statement explaining his dissent, the outlook for inflation is “arguably worse” than it was last December.