Latest news with #DanielPerez
Yahoo
9 hours ago
- Business
- Yahoo
When is Florida's tax-free holiday for hurricane supplies? Will legislators ever agree?
The 2025 Atlantic hurricane season has officially begun. Meteorologists with NOAA, AccuWeather and Colorado State University all agree: the 2025 hurricane is predicted to be above average. That's not a good sign when, based on a 30-year period from 1991 to 2020, an average Atlantic hurricane season has 14 named storms, seven hurricanes, and three major hurricanes. ➤ Weather alerts via text: Sign up to get updates about current storms and weather events by location Every emergency official also agrees now is the time to prepare; now being before a storm is approaching Florida. But Florida residents often use the state's disaster preparedness tax holiday to help with costs when it comes to building that important disaster supply kit. So far, that tax-free holiday has not been approved by the Florida Legislature. Legislators planned to return to Tallahassee the week of June 2 to work out the details of the state's 2025-2026 budget. A budget stalemate in Tallahassee resulted in a tax-free holiday for disaster supplies not happening before the start of the Atlantic hurricane season on June 1. Hurricane season runs from June 1 through Nov. 30, with the busiest time of the season running from mid-August through mid-October. In 2024, two two-week periods were held to save residents money when purchasing emergency supplies. The first was June 1 through June 14, during the first two weeks of hurricane season. The second was Aug. 24 through Sept. 6, which occurs during the busiest portion of hurricane season. In past years, residents were able to purchase such supplies as batteries, tarps, portable generators, reusable ice, coolers, and gas tanks without the added burden of paying sales tax. Even pet food and supplies were included in the tax-free holiday. A few other states have tax-free holidays to help residents prepare for disasters. Some call it severe weather preparedness, while others focus on hurricane preparation: Alabama: Feb. 21-23 Texas: April 26-28 Virginia: Aug. 1-3 A dispute between GOP state House and Senate leaders hijacked the disaster supplies sales tax holiday Florida residents have been used to. Just two days before the June 1 start of hurricane season, legislative leaders announced a preliminary spending deal had been struck. Lawmakers are scheduled to return to Tallahassee the week of June 2 and to work out the details of the state's 2025-26 budget. What that will mean for Florida residents remains to be seen. Memos released to news media mentioned plans for "permanent sales tax exemptions targeted toward Florida families" but didn't mention specific tax holidays. DeSantis, who included the hurricane sales tax holiday in his budget recommendations, said he wants lawmakers to include it in any final budget. House Speaker Daniel Perez, R-Miami, has pushed for an overall reduction in the state's sales tax for all items, moving it from 6% to 5.25%, instead of having specific sales tax holidays. The Senate included a sales tax holiday that would have run May 15-31 in its tax package. In his budget, DeSantis proposed several sales tax holidays, including two 14-day periods for disaster preparedness. He projected the savings would equal $72 million on hurricane supplies. The 2025 sales tax holidays proposed by DeSantis must be approved by the Florida Legislature, but House and Senate leaders have deadlocked over the budget this year. ➤ New to hurricanes? Everything to know about NOAA tips from Hurricane Preparedness Week Prepare now, before a hurricane is coming. Break it down into steps: Assemble a disaster supplies kit Check your home. Look at roof, shutters, garage door, trees, loose items, etc. Determine your evacuation zone and whether you live in a flood-prone area Look over your insurance coverage Go to FEMA's Flood Risk website, and enter your ZIP code. ➤ Know your risks from wind and water Go to the Florida Department of Emergency Management's Know Your Zone website and enter your address. ➤ Know your risks from wind and water The Atlantic hurricane season runs from June 1 through Nov. 30. Ninety-seven percent of tropical cyclone activity occurs during this time period, NOAA said. ➤ National Hurricane Center tracking new tropical wave. Wet week ahead for Florida We will provide tropical weather coverage daily until Nov. 30 to keep you informed and prepared. Download your local site's app to ensure you're always connected to the news. And look for our special subscription offers here. Contributor: Gray Rohrer, USA Today Network-Florida This article originally appeared on Palm Beach Post: Florida hurricane supply kit: When is tax-free holiday?
Yahoo
3 days ago
- Business
- Yahoo
Florida Legislature reaches preliminary budget agreement
The Brief Legislative leaders in Florida say they've reached a budget deal that includes nearly $2 billion in tax relief. The agreement paves the way for lawmakers to negotiate full spending details next week. A final vote is expected by June 16, just in time for the July 1 fiscal deadline. TALLAHASSEE, Florida - The Florida Legislature has tentatively reached a budget agreement, Florida House speaker Daniel Perez told state leaders in a memo late Friday. What we know After weeks of stalled negotiations, Florida House Speaker Daniel Perez and Senate President Ben Albritton announced late Friday that they've agreed on a budget framework for the 2025–2026 fiscal year. By the numbers The $900 million plan eliminates the tax on commercial leases, a long-pursued priority for business groups, and includes $350 million in permanent sales-tax exemptions aimed at helping Florida families. It also allocates $250 million to debt reduction and $750 million to the state's rainy-day fund. What they're saying House Speaker Daniel Perez, R-Miami, and Senate President Ben Albritton, R-Wauchula, issued memos that indicated they expect to pass a budget for the 2025-2026 fiscal year on June 16. The memos came after weeks of behind-the-scenes talks aimed at trying to kick-start the conference negotiating process. "I appreciate everyone's patience during this unusual and protracted allocation process. I am pleased to inform you that we have reached an agreement with the Florida Senate," Speaker Perez said in the memo, adding that the budget conference would begin next week. "We will also be taking up a joint resolution to amend the Florida Constitution to raise the cap on the Budget Stabilization Fund (BSF) from 10% to 25% and require an annual payment ($750 million) into the BSF until the cap has been reached," he said. "In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy," Albritton wrote in his memo. "The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies," he added. The backstory The budget impasse stems from deep divisions between the House and Senate over how to cut taxes. The House initially pushed a $5 billion plan that would have slashed the state's sales-tax rate, while the Senate favored targeted tax holidays and commercial-lease tax reductions. Although leaders said on May 2 that they'd agreed to a $2.8 billion tax cut package, that tentative deal fell apart publicly when Perez accused Albritton of backing out. Albritton countered that senators felt a blanket sales-tax cut wouldn't be felt meaningfully by Floridians. Big picture view The delay in passing a budget highlights ongoing friction within Florida's Republican-led government, particularly when it comes to fiscal priorities. With a $117 billion proposed state budget, decisions around tax policy reflect competing visions of how best to ease the cost burden on residents and stimulate the economy. The current deal leans on more targeted tax relief, signaling a shift toward smaller-scale benefits rather than across-the-board cuts. Dig deeper Among the negotiated agreements that Speaker Perez noted in his memo: $2.25 billion in recurring revenue reductions Elimination of the business rent tax ($900 million) Permanent sales tax exemptions ($350 million) $250 million in debt reduction The Florida House will convene on Thursday, June 5 at 9 a.m. The House Budget will convene that same day in the afternoon. Florida Gov. Ron DeSantis unveiled his budget proposal in February and tasked the Florida Legislature to take it up quickly. However, state lawmakers had to extend their talks as they were unable to reach an agreement. Among Gov. DeSantis' budget wishes: Repeal of the state's business rent tax Creation of a new venture capital tax credit program, funded at $100 million A 14-day back-to-school sales tax holiday on school supplies, clothing, and computers Two 14-day disaster preparedness sales tax holidays on hurricane supplies A one-month summer sales tax holiday on outdoor recreation items A 7-day tool time sales tax holiday on tools Second Amendment sales tax holiday between Memorial Day and Fourth of July on ammunition, firearms, and accessories A two-month boating fuel tax holiday on gas A year-long exemption of the mortgage tax A 2-year delay of the natural gas fuel tax set to start Jan. 1, 2026 What we don't know The memos released by legislative leaders did not specify which items will be covered by the $350 million in sales-tax exemptions. They also omitted any reference to the property-tax relief that Gov. Ron DeSantis had previously championed. The lack of detail leaves questions about how the exemptions will be structured and which families or income brackets may benefit most. What's next Conference committees will start meeting on Tuesday to negotiate details of the different parts of the budget, such as education, healthcare and criminal justice. Unresolved issues will go Thursday to House Budget Chairman Lawrence McClure, R-Dover, and Senate Appropriations Chairman Ed Hooper, R-Trinity, for further negotiations. The fiscal year will start July 1, which, if a budget passes June 16, will give Gov. Ron DeSantis two weeks to use his line-item veto authority. STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source House Speaker Daniel Perez issued a statement late Friday, May 30. Gov. Ron DeSantis unveiled his budget goals in February 2025.
Yahoo
3 days ago
- Business
- Yahoo
Budget deal Take Two: Florida House, Senate agree on 'framework' amid raucous session
Nearly a month after leaving the Capitol without passing a budget, House and Senate leaders said Friday night they had reached an agreement that will clear the way for lawmakers to begin hammering out details of a spending plan Tuesday. House Speaker Daniel Perez, R-Miami, and Senate President Ben Albritton, R-Wauchula, issued memos that indicated they expect to pass a budget for the 2025-2026 fiscal year on June 16. The memos came after weeks of behind-the-scenes talks aimed at trying to kick-start the conference negotiating process. The memos said the agreement includes a $900 million tax cut through eliminating a tax on commercial leases, a longtime priority of business lobbyists. It also includes what the memos described as $350 million in 'permanent sales tax exemptions targeted towards Florida families,' $250 million in debt reduction and $750 million in annual payments into a state rainy-day fund. 'In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy,' Albritton wrote in his memo to senators. 'The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies.' Conference committees will start meeting Tuesday to negotiate details of the different parts of the budget, such as education, health care and criminal justice. Unresolved issues will go Thursday to House Budget Chairman Lawrence McClure, R-Dover, and Senate Appropriations Chairman Ed Hooper, R-Trinity, for further negotiations. The fiscal year will start July 1, which, if a budget passes June 16, will give Gov. Ron DeSantis two weeks to use his line-item veto authority. The House and Senate were unable to reach agreement on a budget before the scheduled May 2 end of the annual legislative session because of differences about tax cuts and spending levels. Lawmakers extended the session, but House and Senate leaders remained at odds as they worked behind the scenes. The House in April approved a plan that called for cutting the state sales-tax rate from 6 percent to 5.25 percent, which would have totaled roughly $5 billion. But the Senate did not go along and pitched a plan that included providing a sales-tax exemption on clothes and shoes valued at $75 or less, sales-tax 'holidays' and trimming the commercial-lease tax. DeSantis, meanwhile, called for cutting property taxes and criticized the House's plan for reducing the sales-tax rate. Perez and Albritton indicated on May 2 that they had reached a 'framework' that would include $2.8 billion in tax cuts, including reducing the sales-tax rate. But that later blew up, with Perez publicly accusing Albritton of backing out of the deal. But Albritton said senators had raised concerns that a cut in the sales-tax rate would not be 'meaningful, felt, or seen by families and seniors when compared with other available options.' The memos released Friday night did not provide details of the $350 million in sales-tax exemptions that are included in the latest agreement. They also did not mention property-tax cuts. This article originally appeared on Tallahassee Democrat: Florida House, Senate agree on budget 'framework' after bitter divide
CBS News
3 days ago
- Business
- CBS News
Florida lawmakers reach budget agreement, set to finalize $900 million tax cut plan
Nearly a month after leaving the Capitol without passing a budget, House and Senate leaders said Friday night they had reached an agreement that will clear the way for lawmakers to begin hammering out details of a spending plan Tuesday. House Speaker Daniel Perez, R-Miami, and Senate President Ben Albritton, R-Wauchula, issued memos that indicated they expect to pass a budget for the 2025-2026 fiscal year on June 16. The memos came after weeks of behind-the-scenes talks aimed at trying to kick-start the conference negotiating process. Key financial priorities The memos said the agreement includes a $900 million tax cut through eliminating a tax on commercial leases, a longtime priority of business lobbyists. It also includes what the memos described as $350 million in "permanent sales tax exemptions targeted towards Florida families," $250 million in debt reduction and $750 million in annual payments into a state rainy-day fund. "In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy," Albritton wrote in his memo to senators. "The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies." Conference committees will start meeting Tuesday to negotiate details of the different parts of the budget, such as education, health care and criminal justice. Unresolved issues will go Thursday to House Budget Chairman Lawrence McClure, R-Dover, and Senate Appropriations Chairman Ed Hooper, R-Trinity, for further negotiations. The fiscal year will start July 1, which, if a budget passes June 16, will give Gov. Ron DeSantis two weeks to use his line-item veto authority. Past disagreements and new framework The House and Senate were unable to reach agreement on a budget before the scheduled May 2 end of the annual legislative session because of differences about tax cuts and spending levels. Lawmakers extended the session, but House and Senate leaders remained at odds as they worked behind the scenes. The House in April approved a plan that called for cutting the state sales-tax rate from 6 percent to 5.25 percent, which would have totaled roughly $5 billion. But the Senate did not go along and pitched a plan that included providing a sales-tax exemption on clothes and shoes valued at $75 or less, sales-tax "holidays" and trimming the commercial-lease tax. DeSantis, meanwhile, called for cutting property taxes and criticized the House's plan for reducing the sales-tax rate. Perez and Albritton indicated on May 2 that they had reached a "framework" that would include $2.8 billion in tax cuts, including reducing the sales-tax rate. But that later blew up, with Perez publicly accusing Albritton of backing out of the deal. But Albritton said senators had raised concerns that a cut in the sales-tax rate would not be "meaningful, felt, or seen by families and seniors when compared with other available options." The memos released Friday night did not provide details of the $350 million in sales-tax exemptions that are included in the latest agreement. They also did not mention property-tax cuts.
Yahoo
23-05-2025
- Business
- Yahoo
Hinge Health IPO update: NYSE stock trading starts today after shares priced at top of range
Digital physical therapy health startup Hinge Health Inc. is expected to make its market debut on Thursday in a closely watched initial public offering (IPO) that will test the market's interest for a new digital health offering, after what has been a challenging few years for the sector. Tesla's Cybertruck is officially a flop House Republicans just gutted the IRA. What happened to all the supposed holdouts? Trump's 4,000 meme-coins-per-plate crypto dinner is an American embarrassment There have been fewer tech IPOs recently, but they could be making a comeback, according to CNBC. The San Francisco-based company priced shares at $32 on Wednesday, the higher end of its expected range, in an offering led by Morgan Stanley, Barclays, and BofA Securities. The stock will list on the New York Stock Exchange (NYSE) under the 'HNGE' ticker symbol. Based on its IPO share price, Hinge Health has an approximate valuation of about $2.6 billion, though it could be higher on a fully diluted basis. Still, that's much lower than its October 2021 valuation of $6.2 billion, according to CNBC. Hinge Health leverages software, including artificial intelligence (AI), to largely automate care for joint and muscle health, and to improve outcomes and cost reductions for its clients via a digital platform. That platform is designed to address a broad spectrum of musculoskeletal (MSK) health needs care, from acute injury and chronic pain to postsurgical rehabilitation. It aims to reduce pain, improve function, and decrease the necessity for surgeries while promoting health equity, because it allows members to engage in their exercise therapy sessions from any location. The company was founded in 2014 by Daniel Perez and Gabriel Mecklenburg, who both had experienced MSK injuries, as well as underwent surgery and physical therapy, and endured a frustrating recovery process. This post originally appeared at to get the Fast Company newsletter:
