Florida Gov. Ron DeSantis released a record $114.8 billion budget proposal on Wednesday, and within it, he called for a number of tax cuts that would expand on existing toll-road rebates and capitalize on conservative outrage over gas stoves.
DeSantis demanded that legislators approve $1.5 billion in tax cuts, including sales-tax exemptions on items such as common household items and items purchased for infants, children, and pets.
Florida Budget And Tax Plan
The proposal would also expand tax “holidays” for back-to-school and other occasions. During an event in the Capitol to unveil his proposed budget, DeSantis emphasized addressing the needs of the people in the face of inflation.
During the legislative session commencing on March 7, lawmakers will consider the budget and tax proposal. The state’s fiscal year for 2023-2024 will begin on July 1.
During last year’s legislative session, lawmakers approved a tax package that is projected to reduce state and local revenues by $804.3 million in the current fiscal year and by $1.1 billion when future effects are considered. In October, this package included a one-month suspension of the state gasoline tax.
During the legislative session beginning on March 7, the budget and tax proposal will be examined. The fiscal year for the state will begin on July 1, 2023-2024.
Lawmakers approved a tax package that is expected to reduce state and local revenues by $804.3 million in the current fiscal year and by $1.1 billion when considering future effects. In October, this package suspended the state gasoline tax for one month.
A member of the federal Consumer Product Safety Commission stated last month that a ban on gas stoves may be considered in response to emissions that may increase health risks.
Conservatives criticized the proposal, and commission chairman Alexander Hoehn-Saric later clarified that the panel had no intention of banning gas-powered kitchen appliances.
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Gov. Ron DeSantis Prepares For 2024 Presidential Run
In addition, DeSantis has demonstrated he typically gets what he wants from the GOP-dominated Legislature, and he is likely to face little opposition from House and Senate leaders as he prepares for a possible 2024 presidential run.
And while DeSantis expects bad news for the national economy that will impact Florida, he said the state is in good shape.
If the legislature agrees, all state employees would receive a 5% raise, while jobs that are difficult to fill or retain employees would receive a 10% increase.
At this stage of the process, the budget will be modified. DeSantis initially proposed a budget of nearly $100 billion for the current fiscal year, but ultimately approved a budget of $110 billion. Legislators will approve the final product, and DeSantis may veto individual provisions.
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