The Florida House Finance and Tax Committee passed a $436 million tax cut package today, which included the following important Florida Chamber priorities:
- Communication Services Tax cut,
- Reducing sales taxes on commercial leases,
- Back-to-School Sales Tax Holiday,
- Small Business Saturday Tax Holiday, and
- Research and Development tax cut.
Florida Chamber Executive Vice President David Hart testified before the committee this morning emphasizing the Florida Chamber’s support of the plan and urging lawmakers to consider dedicating more funds to targeted tax reform. In fact, according to a new Florida Chamber poll, 72 percent of voters support a reduction of the Communication Services Tax.
The House tax relief package was approximately $690 million during the Regular Session, but has since been reduced to approximately $436 million because of budget concerns stemming from other issues, such as healthcare reform.
Florida Chamber Executive Vice President David Hart testifies in support of Florida Chamber targeted tax reform priorities at the House Finance and Tax Committee on June 2, 2015.
Today’s passage of the House Finance and Tax Committee’s tax relief package (HB 33-A) is just the first step, however, as the entire House and Senate must ultimately agree on the content and amount of such legislation during the Special Session.
The Florida Chamber is pleased with today’s vote and will continue to advocate for targeted tax reform that puts money back into the pockets for Florida’s small businesses and families. We will share updates and insights on this subject in the near future.
More Targeted Tax Reforms:
Click here to learn more about what the Florida Chamber is doing to make Florida more competitive via targeted tax cuts.