|
|
Lawmakers Unveil Plan Calling for
Next Sales Tax Holiday on August 13
Shopping for
a new computer? Costly sports equipment?If you have faith in Beacon Hill,
you may want to wait a few weeks. On Saturday, August 13, consumers could
get pricey products for less under a plan advanced by Beacon Hill lawmakers
Tuesday that would eliminate the 5 percent state sales tax on purchases
up to $2,500.
The proposal mirrors last year’s
first-ever sales tax holiday, which state revenue officials say saved
shoppers about $10.1 million that summer day. If approved by the Legislature,
shoppers would get a one-day break on all purchases except cars, boats,
gasoline, meals or any single item costing more than $2,500.
Shoppers would save $125 on
a $2,500 purchase.
The state Senate included the
2004 tax holiday as part of its 2003 economic stimulus plan. Senate President
Robert Travaglini said in a statement he supports giving shoppers another
tax holiday.
"We offered the sales tax
holiday last year as a way to thank consumers for supporting the state's
economy by continuing to spend during the downturn,” he said. “But
it turned out to be a huge success for retailers and small businesses
generating more than $400 million in one-day revenues. That's a success
story worth repeating."
Retailers, who typically experience
their slowest day of sales on the second Saturday in August, embrace the
proposal. According to the Massachusetts Retailers Association, retailers
reported a 500 percent surge in sales last August 14 holiday. Many businesses
called it “the best day ever” for sales.
Gov. Mitt Romney also backs
the plan, his spokesman Eric Fehrnstrom said. Romney included a sales
tax holiday in his $600 million economic stimulus plan filed in March.
|

|