Bag tax could cost Chicago millions, study says

CHICAGO — Chicago’s bag tax was created to cut back on waste in landfills, while generating revenue. But it turns out it may cost the city money.

The city’s budget was based on more than $9 million in anticipated revenue from the 7 cent per bag tax.

But so many people are bringing their own bags, the expected revenue at this point in the year is down by more than $1.5 million, according to DNA Info.

The tax has brought in $2.5 million since going into effect in February.

That means more than $7 million will need to be collected from the tax before the end of 2017 to hit what the city expected to collect, which is unlikely to happen with less than half the year left.