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The city and state have allegedly worked out a deal to eliminate 4% of the sales tax on clothing or shoes under $110. The city is able to go forward with this since there's a $3.6 billion budget surplus this year (not that we want to put that money back into other services, like the MTA...). So far, the politicians who say they are interested in eliminating this are Mayor Bloomberg, Governor Pataki, and State Assembly Speaker Sheldon Silver; State Senate Majority Leader Joseph Bruno is, according to the Daily News, "non-committal." Oh, Bruno, give it up, just agree to it. NYC funds so much of the state budget, and we always get the short shrift.
So, if you save $4 on your $100 clothing purchase, you can spend that towards your Frappuccino.
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The "surplus" is misleading, considering that we'll have deficits less than a year later. Bloomberg says fiscal 2006 shows a surplus, but 2007 is projected to have a deficit of $4.5 billion, and 2008 has a projected deficit of $4.2 billion*.
(*Source: New York Times, May 6 2005)
Or you could eliminate tax on clothes under $100 by increasing tax on clothes over $100 by 1%... satisfies the commie itch for sure.