Families of elementary, middle and high school age children plan to spend an average of $673.57 on apparel and accessories, electronics, shoes and school supplies, up 6.8 percent from last year’s $630.36, the federation said.
College students and their families plan to spend an average of $888.71. That’s down slightly from $899.18 last year, the federation said.
The Senate was slated to hear the strike all amendment on Tuesday but temporarily postponed the discussion. A scaled back version of popular tax break was returned to the proposal today.
Last year’s back-to-school tax holiday ran for 10 days. Under the new proposal, this year’s tax break would span just 3-days, the federation said.
“On behalf of Florida’s 270,000 retailers and the millions of Floridians who all rely on this holiday, I want to thank the House and Senate for recognizing the importance of the Back-to-School sales tax holiday and returning it to the tax package,” said FRF President/CEO Randy Miller. “We look forward to the positive impact this 3-day sales tax holiday will have on Florida retailers’ bottom line, as consumers take advantage of buying their supplies while also saving money.”
The federation said consumers have come to rely on the sales tax holiday. Retail experts argue that shoppers prefer sales–tax holidays over sales and discounts offered by individual retailers.
The tax break also boosts wages for retail employees, the federation said.