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An early estimate projected the savings for consumers to be about $23.2 million a year but Legislative Service Commission Director Mark Flanders said last week that the state is likely to lose $44 million in fiscal year 2020 and $50 million in fiscal year 2021 in forgone tax revenues. LSC estimated that Ohioans will spend about $400 million on corrective eye glasses and contact lenses in 2020.
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The Ohio Optometric Association supported the change.
“Economic barriers, such as the imposition of a sales tax, make it less likely for patients to obtain the care and medical products they need,” the association said when the tax break was first proposed.