Coca-Cola, Archer Daniels use lobbyists to stop Obama from financing a federal health-care overhaul using tax on sugared beverages
Marla Guthrie
Jun. 27, 2009

Lobbyists for Coca-Cola Co., Archer Daniels Midland Co. and allies in the soft-drink industry may be successful in moving to kill a proposed tax on sugared beverages to help finance a federal health-care overhaul.

President Obama is adamant on getting the healthcare reform complete. The money has to come from somewhere.

The Senate Finance Committee included a soft-drink tax among possible sources of revenue to pay for expanded health- care programs that will cost $1 trillion over 10 years.

Proponents of the proposed tax say a penny-per-ounce federal tax would raise $16 billion a year and cut non-diet soda consumption by 10 percent.

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