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New Jersey Skips Tax Holiday, Families Face Higher Costs

8/27/2025

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Summary

Story summary

New Jersey did not implement its sales-tax holiday for school supplies in 2023, saving $35 million.
Families experienced higher costs from tariffs, leading to an estimated $73 million tax increase on school items.
Back-to-school spending has declined, with families budgeting approximately $858 for K-12 and $1,326 for college.
Experts argue tax holidays may not benefit low-income families and suggest alternative tax reforms.

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Story summary

New Jersey did not implement its sales-tax holiday for school supplies in 2023, saving $35 million.
Families experienced higher costs from tariffs, leading to an estimated $73 million tax increase on school items.
Back-to-school spending has declined, with families budgeting approximately $858 for K-12 and $1,326 for college.
Experts argue tax holidays may not benefit low-income families and suggest alternative tax reforms.