The Florida Senate and House have agreed on a tax relief plan. The legislation cuts more than $400 million and includes 13 different tax cuts.
The proposal also reduces the communication services tax rate by 1.73 percent, adds a 10 day Back-To-School sales tax holiday and creates a year-long sales tax exemption on textbooks.
House Speaker Steve Crisafulli says it’s all about compromise.
“And again, it was about working with our senate partners and finding areas that we can come together on it,” Crisafulli says. “Listen, when you look at the bill, it’s very similar to the one that we pass out of here. But, recognizing that they have priorities as well is important and they wanted to apply those to that package. And that’s going to be the final product.”
Rep. Matt Gaetz (R-Fort Walton Beach) serves as the House Finance and Tax Committee Chair. Gaetz wants to see more tax reduction in the upcoming years.
“And I think as we go into next year we can do even more,” Gaetz says. “ I mean look, last year we cut taxes by half a billion dollars and we had a $1.2 billion surplus. Now we are going to cut taxes over $400 million and if we continue to cut taxes and have fewer taxes and have more tax payers. That’s when you have an economic sweat spot.”
The proposal now goes to Gov. Rick Scott for approval.