Fla. will renew back-to-school sales tax holiday

A Senate budget panel on Wednesday approved a tax cut package (HB 7087) that includes roughly $120 million worth of tax breaks.

The bill calls for a three-day sales tax holiday from Aug. 3 to Aug. 5.

During the holiday shoppers would not have to pay state or local sales taxes on clothing worth $75 or less or pay taxes on school supplies worth $15 or less.

The tax cut package also includes a top priority for Gov. Rick Scott. It increases the amount of money exempt from the state's corporate income tax.

The legislation also includes a whole series of other tax breaks, including one that would benefit a proposed beef slaughterhouse in Marion County.