Gov. Rick Scott unveiled more than $500 million in tax reductions Wednesday in his “It’s Your Money Tax Cut Budget” for fiscal year 2014-15.
Scott’s $74.2 billion budget seeks to reduce taxes, state debt and government waste, according to a statement released by his office.
“My 2014-2015 ‘It’s Your Money Tax Cut Budget’ reflects our commitment to give $500 million back to Florida families through tax and fee cuts, eliminate government waste and pay down debt,” Scott said in the statement. “These are the three steps in our formula to create jobs for generations to come. This budget will continue to drive the economic turnaround our state has made over the last three years as we build on policies to keep Florida working. This budget recognizes that taxpayer money belongs to the people who earn it. Not government.”
For several years before Scott’s election, the Sunshine State had lost more than 800,000 jobs bringing the unemployment rate to 11.1 percent, Scott said.
“Over the past three years we have laid a foundation of reforms to cut taxes, pay down debt and reduce spending,” he said. “These pro-growth policies supported the creation of more than 462,000 private sector jobs in our state, and our vibrant economy led to a major drop in our unemployment rate – now below the national average at 6.2 percent. Nearly 3,000 state regulations on families and job creators have been repealed and we have paid down $3.6 billion in state debt.”
Scott’s budget includes reductions in 2009 auto fee increases and taxes on vehicles, commercial leases and businesses, while increasing funding to K-12 education.
“Florida’s economy is growing. We are on the rebound. More revenue does not mean we should grow government,” he said. “Instead, we should grow our businesses. We should grow the hopes and dreams of Florida families. Three years ago, we got to work to turn our state around, and with another $500 million in tax cuts we will keep working to make Florida the number one destination for opportunity in the world.”
The “It’s Your Money Tax Cut Budget” highlights are available HERE.
The “It’s Your Money Tax Cut Budget” FAQ is available HERE.
Prepared remarks by Scott on theThe “It’s Your Money Tax Cut Budget” are available HERE.
The full “It’s Your Money Tax Cut Budget” is available HERE.
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