Fri August 17, 2012
Tax Free Weekend Getting Underway
It's that time of year again: As the summer ends for Texas students, the state's annual sales tax-free weekend gears up again.
Items receiving tax-free status this weekend include clothes, shoes, backpacks and school supplies. You can find a complete list of items going untaxed this weekend here.
As KUT News reports, Texas Sen. Rodney Ellis, who sponsored the measure originally in 1999, is cognizant of the impact on the state of foregoing those tax dollars, estimated at $65 million this year.
But he says:
“The $65 million that the state loses for the sales tax holiday every year is really a drop in the bucket compared to the hundreds of millions of dollars, the billions of dollars in giveaways to energy companies, the [Agriculture] extension, that are in the tax code,” Ellis said.
Gov. Rick Perry lauded the sales tax holiday in an event a San Marcos Wal-Mart.
“The state of Texas, from the standpoint of economically, is doing better than any other state in the nation. ... And the idea that we leave money in private citizens’ hands is a good concept, and it’s one that other states should try.”