Tax holiday likely to be approved for Aug. 10-11
Massachusetts shoppers can save some money next month if state lawmakers next week pass a bill declaring the weekend of Aug. 10-11 a tax holiday.
The bill suspends the state’s 6.25 percent sales tax for that weekend on items that cost up to $2,500, with the exception of purchases such as cars, boats and meals.
In a statement released Wednesday, Speaker Robert DeLeo said the House will take up the bill next week.
“While the Massachusetts economy is continuing to improve, folks across the Commonwealth are still facing tough fiscal times,” he said. “The sales tax holiday will provide relief to consumers and encourage residents to shop locally.”
Consumers reportedly saved more than $23 million during last summer’s tax-free weekend.
Critics of the tax holiday say it merely shifts consumer spending patterns while denying the state of revenues needed to run programs and deliver services, the State House News Service reported.