Axios – The biggest weekend of the year for tax-free shopping has arrived with 10 states holding sales tax holidays in early August.

Why it matters: It’s a rare tax break for families preparing for a new school year with many grappling with higher-priced school supplies and clothing.

• Dates and the items exempt from tax vary by state, according to the Federation of Tax Administrators.

The big picture: Families with children in elementary through high school plan to spend $874.68 on average on back-to-school purchases, according to the National Retail Federation’s annual survey of more than 7,500 consumers.

• This is down from last year’s record of $890.07 but is the second-highest amount in the survey’s history.
• Total back-to-school spending is expected to reach $38.8 billion, down from last year’s record of $41.5 billion.

Zoom in: Half of parents will sacrifice necessities to pay for back-to-school expenses, according to an Intuit Credit Karma survey of 1,002 consumers.

• 31% said they are unable to afford back-to-school shopping for their kids this year.
• 59% of parents say that because of “the high cost of living, they will spend more money on back-to-school shopping this year compared to previous years.”