I ran across this article listing tax holidays state by state. Our ten-day tax holiday gives us a break on clothing, school supplies, backpacks and other items, and is always in August (at least since Jeb! was in office). I wanted to confirm the dates, and I was puzzled when I didn’t see Florida’s holiday listed.
The tax holiday must be approved each year, and this year the politicians do all the usual posturing, using three million words to say nothing at all. Florida politicians were so scared about losing revenue they were reluctant to approve any loss of income, and consumers are once again paying the price.
First, there was one. Then, there wasn’t to be one. Then, maybe there would be a shortened one. Then, there was confusion. The dadgum politicians dragged their asses until it was too late.
What’s so ridiculous is how short-sighted this indecision was. This tax break is real economic stimulus. Consumers feel good getting a little break, and it gets them into the stores. Many are likely spend more than they would have otherwise. Frugal shoppers like me are in heaven when they can take advantage ofgreat deals and save another 6-8% on tax. Every year I buy school supplies to use as stocking stuffers and gift bag items at great savings.
Retailers win, consumers win, and the state wins because they will get tax money on non-exempt items. The tax holiday saved Floridians anywhere between $41 and $46 million last year. They also jettisoned a similar tax holiday on hurricane supplies. That $12 million break, in place since the devastating hurricane seasons of 2004-2005, was removed from the budget in May.
I know balancing the state budget is a very difficult process. And I really appreciate that we still have no state income tax.
But really, come on. What’s $46 million between friends?
I WANT MY SALES TAX HOLIDAY! Ahem.