Rick Scott Approves 180 Million in Tax Cuts
May 25th, 2017 by Jake Stofan
Governor Rick Scott signed this years tax package Thursday morning..
The package includes $180 million dollars in tax cuts for Floridians.
The tax cuts are welcomed by business groups, but others say they go to far.
Hurricane season begins next Thursday, the Hurricane tax holiday begins the next day.
Items covered in the exemption include batteries, power generators up to $750 and flashlights.
The three day holiday is expected to be a boom for retailers.
“We got hit by a bunch of hurricanes last year, not to mention tornadoes and floods. This disaster preparedness holiday will be huge for retailers and huge for consumers in preparing themselves in case a natural disaster hits again this year,” said James Miller with the Florida Retail Association.
Shoppers will also get a three day tax holiday for back to school shopping in August.
People can purchase clothing and shoes up to $60 and school supplies up to $15 tax free.
New this year is a technology exemption, extending the tax breaks to items like computers and tablets up to $750.
The business rent tax is seeing its first ever reduction.
The Florida Chamber of Commerce says the cut will provide a boost for small businesses.
“They can reinvest back into their businesses, they can reinvest in their employees, provide raises, additional benefits,” said Carolyn Johnson with the Chamber.
Florida is the only State to tax business rent.
The tax plan also creates an exemption for feminine hygiene products like tampons menstrual pads.
Governor Rick Scott likes to brag that he’s cut taxes more than 50 times since taking office.
Some feel it isn’t a good idea.
The Florida Center for Fiscal and Economic Policy has been criticizing the Legislature’s tax plans for years.
“If you’re going to change the sources of revenue, you can’t just cut. We have to look and create new revenue,” said Karen Woodall with the center.
The center says tax cuts contribute to budget cuts in other areas like education, the environment and healthcare.
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