New York Makes Ridiculous Amount Of Money On Bottle Returns
Recently New York State announced they are looking to increase the amount of deposit that people pay when they buy a bottle of water, pop, or beer.
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Currently, anytime you buy a bottled or canned beverage you pay a 5-cent deposit that you get back when you return the bottle. New York is looking at doubling that amount to 10 cents per bottle or can.
They say that the additional 5 cents per can will encourage more people to recycle their bottles and cans but it will also double the millions of dollars the state makes off unredeemed bottles and cans.
Yes, I said millions of dollars! According to the website bottlebill.org in 2021, New Yorkers redeemed around 70% of all the bottles and cans that they paid a deposit on.
That means that New York State keeps the money on the other 30% of the bottles. You paid the deposit but never redeemed it so New York keeps the money.
Over the years New York State has made millions of dollars on unredeemed bottles. in 2015 they collected over $109 million dollars and over $102 million dollars in 2016.
If the State doubles up the deposit and even with more people redeeming their bottles and cans, New York could still make millions and millions of dollars on the unredeemed bottle and cans.
Also if the new bill is passed it would require manufacturers to increase the amount they paid bottle and can handlers from 3.5 cents to 6 cents per bottle or can. That could lead to an increase in the cost of beverages as the added cost could be passed on to the consumer.
Right now the new bill is being debated but if passed it could be signed into law as early as 2024.