Mayor Bloomberg announces Summer Breaks; Photo -

The new city sales tax of 8.625% will go into effect next Wednesday. The Post finds that people aren't happy with the tax hike. The Times dives deeper into the confusion about a 0.375% increase, versus a rounder number, plus lets us know that there will be two sales-tax-free weeks a year for clothes shopping: "The first will begin on the Tuesday before Labor Day, Aug. 26, and run through the end of the day on Labor Day, Sept. 1."

On the other side, in order to boost tourism (but New Yorkers will get to partake), the Mayor introduced a "Summer Breaks" plan with discounts for hotels, restaurants, and shopping from June 1 - September 5.