House and Senate negotiators reached an agreement early Friday morning to phase out the state's sales tax on food even as Democrats said it didn't go far enough with the state having an almost $3 billion surplus.
The tax conference committee agreed to a plan that called for cutting the state's 6.5% sales tax on groceries to 4% by Jan. 1, 2023, then to 2% in 2024 and then ultimately to zero by 2025.
The cost of the tax cut is estimated at more than $700 million over three years, including $75 million to $80 million . . .
SSJ
This content is restricted to subscribers. Click here to subscribe. Already a subscriber? Click here to login.
