House puts $1 billion tax cut package in play that is similar — but different — from Gov. Rick Scott’s
The Florida House unveiled a $1 billion tax-cut package Wednesday — similar in size to what Gov. Rick Scott wants, but a lot less permanent.
The House steers clear of the centerpiece of the Republican governor’s plan — a $770 million reduction in the corporate income tax paid by manufacturers and retailers.
Instead, House Finance and Tax Chairman Matt Gaetz, R-Fort Walton Beach, packaged together a host of one-time reductions, including four different sales tax holidays.
But House Speaker Steve Crisafulli, R-Merritt Island, also said that the initiative marked just the beginning of discussions on a tax-cut plan this election-year session. Crisafulli said there remains a “long way to go,” and some form of big corporate income tax cut is likely still to be discussed.
The House does go along with Scott’s proposed permanent elimination of the sales tax on equipment purchases by manufacturers. Scott’s call for cutting 1 percent from the 6 percent sales tax paid on commercial leases also was embraced by the House.
The Senate hasn’t said much so far about $1 billion in tax breaks. Senate President Andy Gardiner, R-Orlando, has set aside $250 million for tax breaks in the chamber’s budgeting. But the legislative session’s closing weeks will likely include wheeling-and-dealing toward that $1 billion benchmark sought by Scott.
A coalition of business groups last week began airing 30-second TV spots touting the business rent tax cut on the heels of Scott’s own $1 million TV ad buy – through his Let’s Get to Work spending committee – that promoted the tax breaks statewide as he barnstormed several cities, including Boca Raton, on a bus tour.
The Cut My Rent 1 Percent coalition includes the National Federation of Independent Business, the Florida Retail Federation, Greater Boca Raton Chamber of Commerce and others.
