The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars

The Florida legislative body, has passed a tax relief package worth 1.4 billion dollars

Here is what you need to know about the tax relief package by Florida House.

On Thursday, the Florida House passed a comprehensive $1.4 billion tax package, which includes a long list of benefits for consumers and businesses. This relief package, which is now heading to the Senate for final approval, provides over $200 million in additional savings compared to last year’s $1.2 billion tax plan – the largest in Florida’s history.

If this legislation is approved, it will establish a permanent tax exemption for diapers and broaden the sales tax holidays for items related to back-to-school, disaster preparedness supplies, and equipment for skilled trades. Additionally, the bill will fulfill Governor Ron DeSantis’ commitment to make gas stoves tax-free, which was a response to a misleading talking point propagated by conservatives who claimed that the White House was targeting kitchen appliances.

Moreover, the bill will maintain local communication services tax rates for three years, which will progress towards the governor’s promise to decrease the cell phone and cable TV tax made in 2018. According to state Representative Dianne Hart (D-Tampa), “Every single year, we’ve been doing good things. This year, we hit a home run… I’m excited about it. I know that this will mean a lot to many parents.”

State Representative Stan McClain (R-Ocala), who proposed the bill, also commented, “I am a believer that anytime you cut taxes, you create economic opportunity for other people.” Nevertheless, the Florida Policy Institute, a progressive-leaning research organization, has noted that some retailers misuse sales tax holidays by increasing their prices or diluting promotions.

The Senate will soon address the differences between their tax package and the House’s version in the remaining days of the legislative session, which is scheduled to end next week.

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