Gov. Scott To Push For Another Cut In Corporate Tax
Legislative Session Coverage
ORLANDO (AP) — Gov. Scott wants state legislators to cut Florida’s corporate income tax again.
Scott on Thursday spoke to a national convention of Realtors where he said he’ll seek legislation that increases the number of businesses that are exempt from paying the tax.
Scott campaigned on a promise to eliminate the corporate income tax over a seven-year period but legislators have been unwilling to go along with any large cuts in the tax. That’s because the state has been forced to cut spending on education and health care programs in order to keep the budget balanced.
Scott’s newest proposal calls for exempting another 2,000 businesses from having to pay the tax.
The proposal is expected to cost roughly $8 million in the first year.
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