WCTV: Public Hearing Held to Discuss Florida’s Tax Swap Plan
Saturday, April 19, 2008
Florida’s tax swap plan was discussed in a public hearing Friday. The Taxation and Budget Reform Commission already approved the plan which would trade a 25 percent cut in property tax for a penny sales tax increase.
One lawmaker says the plan would actually raise the amount of tax Floridians pay, because a one cent sales tax increase wouldn’t raise enough money to fill the gap left by the property tax cut.
“The best way to describe this plan is it’s unstable, it’s uncertain, and it does not bring jobs into this economy. And without question it overtaxes what I think are already over-taxed Floridians under the guise of a property tax cut, which we’re all for. But you’re taxing them through the back door,” says Senator Mike Haridopolos (R-Osceola, FL).
The Taxation and Budget Reform Commission will have a chance to re-vote on the issue. If no one changes his or her original vote, the plan will be put on the November ballot.