House May OK Sales Tax Holiday Today
Having bumped up state revenues by roughly $500 million with a tax bill that cleared both branches in an override last Wednesday, the House today was set to vote on legislation for a sales tax holiday Aug. 10 and 11.
The holiday would not apply to tobacco, telecommunications, gas, steam, electricity, motor vehicles or boats, nor does it apply to any product with a price higher than $2,500. The temporary relief from the state’s 6.25-percent sales tax provides an economic stimulus as back-to-school shopping begins, its proponents argue. Meanwhile, critics say it costs the state $20 million at a time when the state is in need of revenue.
If the Legislature passes a bill for a sales tax holiday, Gov. Deval Patrick said he expects to sign it when it reaches his desk.
WBJ Web Partners
Most Recent
Most Recent
0 Comments