DeSantis signs tax package to benefit individuals and corporations in Florida

Florida Gov. Ron DeSantis signed a major tax relief package on Tuesday that’s designed to give major breaks to both families and corporations across the state.

“This is another billion plus dollars in tax relief for Florida families,” the governor said at a bill signing ceremony at a restaurant in Port Canaveral, adding that it contributes to a previous bill that he signed earlier this spring for toll road relief. That now makes the total savings to taxpayers this year to $1.5 billion, a statistic he boasted about.

“Before I became governor, we never came close as a state to doing even a billion dollars in tax relief,” he said. “We’ve done, just since I’ve become governor, close to $7 billion.” (The governor’s office said it has been “nearly $6.7 billion” in a press release).

DeSantis also took a verbal shot at the Biden administration for the inflation rates that continue to drive up the price of items to Floridians and Americans.

“It’s been very difficult for a lot of people,” he said. “We don’t control the federal reserve in Florida. Lord knows we don’t behave like Congress behaves and we don’t control the printing presses up there, so we have to just deal and play the hand we’re dealt, given what’s happened in Washington. So we’ve taken a lot of steps over the past three years in particular to provide relief for Floridians to help get them through this period of ‘Bideninflation.’”

Despite that criticism, PolitiFact determined last year that more than one-third last year’s proposed budget that DeSantis introduced came from the federal government led by President Joe Biden.

The tax package is expected to cost an estimated $439.6 million, according to a legislative bill analysis.

The measure (HB 7073) provides for four different “tax holidays” for individuals and families later this year. They include:

• Two separate disaster preparedness holidays to run from June 1- June 14 and August 24-Sept. 6 where individuals and families can prepare for the hurricane season to purchase items such as a portable generator (selling for $3,000 or less), batteries (selling for $50 or less) and supplies for household pets like dogs and cats;
• A back-to-school sales tax holiday from July 29 – August 11 which will allow for the purchase of items like clothing and footwear selling for less than $100; for school supplies that cost less than $50 and for personal computers and cell phones with a sales price of $1,500 or less;
• A ‘tool-time’ sales tax holiday from Sept. 1-7 for specific tools commonly used by skilled trade workers such as hand tools, power tools, work gloves and toolboxes,
• And a ‘Freedom Month’ tax holiday from July 1-July 24 for items related to recreational activities such as tickets for live music events, sporting events and movies, plays and ballet performances.

The measure also requires that insurance companies provide a 1.75% deduction of the total premium charged on all residential property policies and on personal or commercial flood properties.

And it gives plenty of tax relief to corporations, such as doubling the tax breaks for businesses (from $20 million to $40 million per fiscal year) that make monetary donations to charitable organizations that provide services focused on child welfare and well-being that are certified by the Florida Department of Children and Families. It also creates a tax credit for employers who operator or support a childcare program for their employees.

And the measure also provides a corporate income tax credit of $5 million for three years for businesses that hire persons with disabilities. “If you look at some companies that have done this like Publix, they are providing opportunities for all of these great people that have unique abilities and have certain challenges, and these are very productive citizens. And they do a great job,” DeSantis said.