Michael Bloomberg backs Chicago area soda tax with $2M in ad money

Michael Bloomberg, the 10th richest person in the world, poured $2 million into an ad campaign to support the Chicago-area sweetened beverage tax, according to the Chicago Sun Times.

The sweetened beverage tax, which went into effect Aug. 2 in Cook County, imposes a 1 cent tax per ounce on any bottled beverage that contains added sugar. Many retailers and consumers are seeking to abolish the tax.

Mr. Bloomberg tapped into his Independence USA super PAC to fund television, radio and digital ads that will spread a message to consumers that the tax could help reduce childhood obesity rates.

The advertisements are expected to start airing on Aug. 18. 

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