Florida Governor Rick Scott kicked off his Fighting for Florida’s Future Tax Cut Tour in Jacksonville today announcing $618 million dollars in tax cuts for small businesses and families.
Scott says the over $600 million in tax cuts will help Florida small businesses stay competitive.
“Part of its price, part of its quality, part of its service,” Scott said. “So, we have to do everything we can to drive the cost of being in our state down as much as we can.”
Over $400 million in cuts come from reducing the tax on commercial leases by 25%, President and CEO of the Greater Sarasota Chamber of Commerce, Kevin Cooper, says this bring Florida in line with the rest of the country.
“The state of Florida is one of only 2 or 3 states in the entire United States that charges a sales tax on the lease that business owners pay for the space they occupy. It’s hard to justify, we’re not sure why we do it, it makes the states less competitive.”
Cooper says Suncoast businesses can invest that savings.
“They are going to see it reinvested back into their businesses,” Cooper said. “They are going to be able to buy new equipment, create new jobs and march this economy forward.”
Governor Scott says the goal is for small businesses to be able to hire more people.
“I fought for jobs,” Scott said. “I grew up in a family that didn’t have jobs. I know what it’s like to watch a mom worry about putting food on a table. A dad when his car got repossessed.”
The Governor is also proposing 4 sales tax holidays, A Back-to –school holiday, a disaster preparedness holiday, a veteran’s holiday, and a camping and fishing holiday, estimated to save Florida families $98 million dollars.
Cooper says these drive economic activity.
“Any reason to get people into the stores,” Cooper said. “Buying, creating activity is great. And of course it doesn’t affect the bottom line at all of those retailers.”
Scott is also proposing cutting the business tax, and providing a tax exemptions for college textbooks, and school book fairs.
Lawmakers will consider Scott’s tax cuts and budget proposals during the legislative session.
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