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Senator Says Tax Swap Plan Would Hit Floridians in the Pocketbook

April 18th, 2008 by flanews

Senator Mike Haridopolos held a public hearing to talk about a plan approved by the Taxation and Budget Reform Commission. The tax swap plan would trade a 25 percent cut in property tax for penny sales tax increase. Haridopolos said the plan would actually raise the amount of tax Floridians pay, because a one cent sales tax increase wouldnt raise enough money to fill the gap left by the property tax cut.

The best way to describe this plan is its unstable, its uncertain, and it does not bring jobs into this economy. And without question it overtaxes what I think are already over-taxed Floridians under the guise of a property tax cut, which were all for. But youre taxing them through the back door, said Haridopolos.

The Taxation and Budget Reform Commissions will have a chance to revote on the issue. If no one changes their original vote the plan will be put on the November ballot.

Posted in Amendments, State Budget, State News, Taxes | No Comments »

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