BOULDER, Colo. (CBS4)– The University of Colorado says it not longer needs an exemption from the City of Boulder’s tax on sugary drinks.
CU had requested more time to adapt to the two cents per ounce tax because it estimated it would cost the campus $1 million the first year. Now the school says that was a miscalculation and will actually lose $200,000.
The vice chancellor of CU apologized to Boulder’s city council and is withdrawing its request for an exemption.
The tax goes into effect July 1.
According to Boulder County Public Health, kids who drink one sugary drink per day have a 55 percent higher risk of obesity, a 33 percent higher risk of dying from heart disease, and a 25 percent higher risk of developing Type 2 diabetes.