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Gov. Scott To Push For Another Cut In Corporate Tax

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Fla. Gov. Rick Scott gives his State of the State Address on Tuesday, Jan. 10, 2012. (Source: The Florida Channel)

Fla. Gov. Rick Scott gives his State of the State Address on Tuesday, Jan. 10, 2012. (Source: The Florida Channel)

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.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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