|Senator Hart Encourages Shoppers to Take Advantage of "Christmas in August"
As the Retailers Association of Massachusetts (www.retailersma.org) prepares for the sales tax holiday which takes place on Saturday, August 12 and Sunday, August 13, 2006, they would like to thank Senator Jack Hart for his support of the bill signed into law by Governor Romney on August 2, 2006.
“Thanks to the hard work and support from Jack Hart both consumers and retailers will benefit from a weekend without sales tax,” said Jon Hurst, president of the Retailers Association of Massachusetts. “The Commonwealth’s lawmakers are bombarded with mounds of legislation every year and we’re grateful for their support of consumers and retailers. It’s a way for Massachusetts to say thank you to all the hard-working men and women that make the Commonwealth flourish and it’s an additional incentive for people invest back into the state during what is typically a slow time of the year for business.”
“Recently the legislature has provided incentives to many industries to help create more jobs in the Commonwealth. This is an opportunity to give something back to consumers while boosting an industry that employs nearly 600,000 workers,” said Senator Hart.
The sales tax holiday in Massachusetts is among the most generous in the nation. All items with an individual price of $2,500 or less will be exempt from sales tax on Saturday, August 12 and Sunday, August 13, 2006. Items exempt from the tax-free holiday that remain subject to the sales tax include motor vehicles, motorboats, meals, telecommunications services, gas, steam, electricity, tobacco products and of any single item whose price is in excess of $2,500. Currently, sales tax holidays now exist in 14 states, including Massachusetts, and the District of Columbia.
The retail industry employs 550,000 people in Massachusetts; collects over $4 billion in sales tax revenue; and exceeds $90 billion in sales annually across the state according to Hurst. Last year, consumer spending made up two-thirds of our economy, and over the past three years has been the most important factor in keeping the economy moving during the downturn.