Tax Holiday Returns!
Sen. Benjamin B. Downing sent us reminder in his latest e-letter today: The state's reinstituted a sales tax holiday for Aug. 14-15. The governor signed the legislation on Thursday giving Bay State consumers a break on most items costing less than $2,500.
The holiday, first enacted in 2005 and observed in some form by more than a dozen states, was canceled last year in light of the state's fiscal distress. Each tax holiday weekend costs the state about $15 million in revenue, and would have been more last year with the sales tax jumping from 5 percent to 6.25 percent.
The holiday is part of an economic development measure designed to help small business; getting consumers shopping will help stimulate the state's economy, say supporters.
Here's what Sen. Downing sent us. (To get the senator's Press Pass, sign up on his website.)