Proposal For Tax Cuts To Remedy Florida’s Budget Problem

Gov. Rick Scott submitted his final budget proposals and it includes a recommendation to cut the current fees charged for getting a driver license as well as holding a number of sales tax holidays in the state of Florida. This is a necessary measure to reach the $180 million. The state is currently campaigning for application of FL Tax ID and this will come as good news to those who are planning to get one. The cut in taxes and fees is due to the budget problem that the legislature is currently facing for the next fiscal year.

There were a number of events held all over the state which functions as a campaign. Scott’s proposal includes taking back the additional fee that was mandated to motorists back in 2009 as an after effect of the recession. His proposal also includes a sales tax holiday which will be targeted as a back to school event and will last for 10 days. The items included will be clothes and supplies for schools. Between the months of May and July, the state will also be conducting tax holidays for disaster preparedness which will last for three weeks.

Scott is no longer given an opportunity for a third term in 2018 but he said that the last seven years, the state has worked so hard in order to flip the economy of Florida and they have clearly seen the outcome.

The yearly legislative session will begin in January and lawmakers is currently facing an under budget. They were expecting to have modest budget for next year but because of the unexpected arrival of Hurricane Irma, their numbers are now lower than they have expected.

With the sales tax holidays proposed by Scott, they can save around $88 million while the motorists will be able to save about $91 million in the next fiscal year.

Many of the residents are planning to get FL Tax ID because of the tax savings they will enjoy next year. Motorists, for instance, will only pay $20 to renew their licenses instead of $48 while first time applicants will pay $27.