Florida Governor Ron DeSantis has promised a massive tax cut is coming to Sunshine State.
The Republican governor appears poised to announce details of the plan in the coming weeks.
Florida recently enacted sales tax exemptions worth $1.3 billion.
Republican Gov. Ron DeSantis vowed Tuesday that Florida is on the cusp of the biggest tax cut in the state’s history.
“Next year, probably in the next few weeks, we’re going to introduce a tax. This will be the biggest tax cut in Florida’s history, so stay tuned,” DeSantis said at a press conference in Live Oak, Florida. He focused on saying:
DeSantis has yet to provide details on which tax cuts are slated. Florida is one of her nine states with no state income tax and has a 6% sales tax with a few exceptions.
Governors typically roll out tax and spending plans just before Congress, which begins in Tallahassee in March 2023.
The reason for an early announcement of the promised tax cuts may be political.DeSantis is for re-election On November 8th when he will face off Democrat Charlie ChristPetersburg lawmaker, formerly the Republican governor of Florida.
With more registered Republicans in the state than Democrats, DeSantis is expected to win re-election easily.governor too top candidate For the 2024 White House, especially the previous case President Donald Trump Not executed.
Tax cuts tend to be heavily on the Republican agenda, and DeSantis has previously said he hopes the November election will see a Republican-wide majority in the Florida legislature.
DeSantis isn’t the only decision maker on the tax bill, but he has a lot of clout in Congress that has proven to have great respect for his priorities.
In May, DeSantis signed tax holiday bill to the law, including $1.2 billion in tax cuts with numerous items from From diapers to trailer houses. Last week, the governor also announced a commute discount for drivers who regularly use the toll.
Florida ended its most recent fiscal year in June with a surplus of $22 billion, so spending is tight.But in general, states across the country wet with cash From President Joe Biden’s COVID stimulus called America’s Relief Plan, and after earning far more than they expected during the pandemic.
Florida received various pockets of federal relief funds totaling an estimated $17.6 billion for the state budget, cities and counties, and schools. It is not yet clear whether the governor plans to use some of these funds for tax relief.
The Republican-controlled Congress and DeSantis used Biden’s $200 million worth of COVID stimulus package to fund a 25-cent-per-gallon gas tax exemption in Florida beginning in October.
Still, DeSantis used the program to attack Biden on Tuesday. ask for A national gas tax holiday that failed to get the support of Congress.
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