The Florida Senate unanimously passed a significant tax cut on Tuesday which reduces annual vehicle registration fees by nearly $400 million.
Senate Bill 156 cuts certain motor vehicle registration fees to what was paid prior to 2009, resulting in an average savings of $25 per vehicle. Overall, the measure reduces fees by $395 million.
“For the second consecutive year, the Senate has overwhelmingly supported Sen. Negron’s proposal to roll back vehicle fees and give broad-based tax relief to every Floridian who drives a car or truck,” said Senate President Don Gaetz. “This bill is the centerpiece of the $500 million ‘It’s Your Money’ tax cut which Gov.Scott, Speaker Weatherford and I are committed to passing this year.”
The legislation is likely to pass in the House, having sailed through the Finance & Tax Subcommittee last week.
Calling the 40-0 vote “great news,” Gov. Rick Scott applauded the Senate’s action.
“I want to thank Senate President Don Gaetz, Sen. Joe Negron and members of the Florida Senate for the unanimous support to roll back the 2009 tax increase on vehicle registrations,” Scott said in a statement. “This tax cut will let families keep nearly $400 million of their hard-earned money in their own pockets.”
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