Governor signs election-year tax cut package

Gov. Rick Scott signed a wide-ranging tax cut package Monday that fulfills an election-year pledge and could boost sales for businesses through a series of tax-free periods during the typically slower summer months.

The signing of the package (HB 5601) lets Scott campaign that he got lawmakers to make $500 million in tax and fee cuts, even if the total won't reach that figure in the upcoming budget year, while providing shoppers with sales-tax holidays on hurricane gear, school supplies and energy saving appliances.

"The bill we signed today is $121 million right back in to Florida citizens' hands," Scott said during a news conference after he addressed the Governor's Hurricane Conference at the Orange County Convention Center in Orlando.

Lawmakers already sent a larger part of the tax and fee cuts to Scott, rolling back vehicle registration fees that were increased in 2009. Scott signed that bill (SB 156) on April 2, giving motorists on average savings of $20 to $25 per vehicle.

The vehicle fee reduction is expected to collectively save motorists about $309 million during the upcoming 2014-15 budget year, with the new lowered rates going into effect Sept. 1. Those savings are expected to grow to about $395 million a year, once they are in effect for the full 12 months of a fiscal year.

Lawmakers approved the other tax-cut package May 2 and said it would save Floridians about $105 million. But Scott put the number Monday at $121 million, and his office also repeated that number in a news release.

The tax cut law, dubbed the "patchwork of awesomeness" by House Finance & Tax Chairman Ritch Workman, R-Melbourne, goes into effect immediately. The three sales-tax holidays are projected to save $36.9 million for Floridians, according to the Legislature's estimates.

http://www.abc-7.com/story/25496921/governor-signs-election-year-tax-cut-package#.U3H692fjg5s

He should give me back the 3 percent he took when he decided that the most solvent pension plan in America needed even more money in the coffers.

PACEDOG#1 wrote:He should give me back the 3 percent he took when he decided that the most solvent pension plan in America needed even more money in the coffers.

Didn't you get a raise? And why do you have a problem with having a retirnebt plan you contribute to like I do?

Either way you are free to vote for the I love obamacare guy

wrote:

PACEDOG#1 wrote:He should give me back the 3 percent he took when he decided that the most solvent pension plan in America needed even more money in the coffers.

Didn't you get a raise? And why do you have a problem with having a retirnebt plan you contribute to like I do?

Either way you are free to vote for the I love obamacare guy

I got my first raise in FIVE years this year and it didn't even return half of what Tricky Dick stole. I have a problem with changing the rules to the game 22 years into the process. There was no need to rape 600,000 state workers when the tax burden (there wasn't even a need) could be spread equally over the population. We aren't talking people who are going to make bank in retirement. I think the average FRS recipient makes about 15-17k. If my health lasts (God willing), I can make a whopping 53% of my top five year average. That's with 35 years of service to the state. I'll bet you make far more money than I do and with half the education.

Where I did make a decent retirement decision was heading into the reserves in the late 90s and eventually qualifying for a retirement with the military as well. I have 27 years for pay purposes thank goodness and will be retiring in the next year or so because of some health issues encountered last summer. I wanted to max it out and reach 33 years and HYT, but it ain't gonna happen now. So, with my FRS, SS (about 50-75% after the millenials cut it), mil retirement and my DROP I won't starve in my old age.

Don't get too excited about that tax cut, in the same breath on the news this morning they have asked for the same amount of the tax cut to go toward education, which would mean higher property taxes.