Massachusetts Residents Closer to Enjoying Sales Tax Holiday
Press Release
July 25, 2008
Representative Bob Hargraves is pleased to announce that the hardworking tax payers of Massachusetts are one step closer to receiving a sales tax holiday this summer.
The House passed the two-day holiday by an overwhelming 139 to 15 vote. Assuming eventual approval by the governor, the holiday will take place during the weekend of August 16 and 17.
High food and gasoline prices combined with skyrocketing energy costs make this year´s holiday especially helpful to strapped consumers. The holiday waives sales tax on most products costing less than $2500, for instance school supplies, computers and home appliances, in hope of saving consumers money while stimulating the commonwealth´s economy.
"The annual tax holidays have generated millions in Massachusetts sales that otherwise would have flowed to New Hampshire," points out Rep. Bob Hargraves.
The tax holiday began as a single-day event in 2004 and expanded to two days in 2005. The House Republican caucus is determined to make the event an annual one.
The 2008 tax holiday is expected to save consumers close to $16 million. It will also provide a shot in the arm for retail businesses, which normally experience a sales lull during the dog days of summer. "Retailers can use the holiday to turn inventory and finance fall merchandise, while consumers pick up a few items they otherwise might not. It´s a win for everyone," says Hargraves.
