Florida house speaker pitches sales tax cut
Florida state leaders are debating cutting sales tax by three-quarters of a percent.
The current state sales tax is 6%.
Leaders say state spending can be cut to suit any drop in revenue the state experiences.
TALLAHASSEE, Fla. - Could shopping get cheaper in Florida?
State leaders are discussing cutting sales taxes, which are currently 6%. The state house speaker wants to lower it by three-quarters of a percent, hoping to save shoppers $5 billion a year.
What they're saying
"This will not be a temporary measure, a stunt or a tax holiday. This will be a permanent recurring tax reduction." said Speaker Daniel Perez (R-Miami).
Cutting sales taxes by three-quarters of a cent would make a $100 purchase 75 cents cheaper, while a $10 purchase would be about seven cents cheaper.
"This year, we'll try a novel concept and make Florida more affordable by giving the people of Florida their own money back to them," said Perez.
Sales taxes make up 40% of all the state's revenue, which goes to pay for the state's roads, law enforcement, education and environmental protection.
Budget chairs have started identifying potential cuts, but none are public yet.
The other side
"There's nothing wrong with it in concept," said House Minority Leader Rep. Fentrice Driskell. "(But), where are we going to make up those funds? Right now, we don't have those details, and I'm not willing to make that trade-off if it means that we give less services to Floridians."
Some allies of Governor Ron DeSantis point out that a quarter of sales tax revenue comes from visitors, so why lessen the burden on them? Let them help pay for Florida's budget.
The governor is fighting for his own property tax reform.
PREVIOUS: Gov. DeSantis' idea to eliminate property taxes may come with risks
"Some of the foreigners, I mean, you have the ability in some of those areas that draw a lot of people to shift the tax burden away from your own people," said DeSantis.
What's next
Sales taxes here are already half a point lower than the national average. Perez insists state spending can still be scrimped to meet the drop in revenue. Experts say they would have to.
"It's a meaningful cut," said Jared Walczak of the Tax Foundation. "So the state would at least have to grow government at a much slower pace than it already has as an already low-tax state. There probably do need to be some cuts to accomplish this."
The house speaker says that potential cuts could be identified when budget committee chairs reveal the results of a deep dive into state spending on Friday.
Florida is projected to have a $2 billion surplus this year, but some projections predict a budget deficit by 2028.
The Source
FOX 13's Evan Axelbank collected the information in this story.
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