US Hispanic Chamber Of Commerce Bitter On Sugary Drink Tax | Financial Buzz

US Hispanic Chamber Of Commerce Bitter On Sugary Drink Tax

The mayor’s endorsement of proposed tax on sugary drinks have not been embraced by US Hispanic Chamber of Commerce (USHCC). Javier Palomarez, the CEO and president of the national organization, wrote in an editorial piece that his group is firmly against any kind of tax which impedes the growth of the economy. Such a tax will also lead to an environment hostile to small businesses. He went further on to add that the organization categorically disapproves of any regressive taxes which hurt communities subsisting on lower incomes.

Regressive taxes

The reason for such tribulations, he reasons, is that the elitist view of what is good and what is not is foisted on them. Palomarez believes that only consumers should make such decisions. In this op-ed, he said that he was disappointed to know that the the Santa Fe chamber will align with a political action committee having pro-tax leanings. He said that this committee supports the tax on beverages on the residents of Santa Fe.

A copy of what the CEO wrote was sent to The New Mexican For Santa Fe & Pre-K by Better Way. This is a committee intent on political action bent on opposing this proposed tax. The authenticity of this op-ed was verified by Albert Morales, the vice president in charge of government policy and affairs. Morales concurred with Palomarez’s view. He said that he will oppose any kind of regressive tax. He defines such taxes as those which have considerable impact on people having lower income households and minority communities. Palomarez stated that the USHCC has no intention of supporting any regressive taxes that will hurt the small business community or the consumers.

Chance of unemployment

In his op-ed, Palomarez stated that he represents the 4.2 million Hispanic founded and operated businesses , pointing out that they contribute approximately $668 billion to the US economy every year. He pointed out that the USHCC also advocates on behalf of about 260 large American corporations. This is done via a network comprising of 200 local chambers related to commerce along with business associations all over the United States.

The text says that the consequence of such taxes could be the derailment of the Santa Fe economy. There is a possibility that the bottling business of Coca-Cola, which has existed for almost a century now could grind to a halt, leaving many of its employees without work. He feared that the tax will reverse the recovery the region has made since recession.