As food prices soar, some states consider cutting taxes on groceries.
Some states are looking to help reduce consumers’ grocery bills as inflation spikes by curbing sales taxes on groceries.
But such moves may not be most helpful to the low-income taxpayers they target, according to a new report from the Tax Foundation.
A better approach may involve sending a modest grocery tax credit to help alleviate the financial pinch low earners are feeling amid rising inflation.
Recent consumer price index data shows food prices jumped 8.8% over the past 12 months, the largest increase since 1981.
Some people worry that food prices will soar like oil prices, what do you think?![]()
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Some people worry that food prices will soar like oil prices, what do you think?
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71139246 : I agree the tax cut on groceries will be useless because only 13 of our 50 states even tax them, so no impact.
States need to make it easier for people and families to get supplemental nutrition assistance