Sales tax holiday closer to adoption in CO
DENVER—A back-to-school sales tax break on school supplies and low-cost clothes is closer to approval in Colorado.
A Senate committee approved the tax break 4-3. The measure faces another committee test, but its chances are excellent in the Senate. Senate President Brandon Shaffer is one of the sponsors.
The measure would waive the state's 2.9 percent sales tax on certain school supplies and low-cost clothes and computers.
The measure already passed the House and has the backing of retailers. But some critics from both parties dismiss the idea as a political gimmick that would do little to help needy parents or the economy.
If approved, the sales tax holiday would be the first weekend in August. It likely wouldn't take effect until 2014.