Gov. Rick Scott signs tax cut bill into law
It's hardly the $618 million tax cut Gov. Rick Scott asked for four months ago.
Still, the Republican governor was more than ready on Thursday to celebrate signing a new package of tax cuts from the Florida Legislature into law.
"Every time we cut taxes, we are encouraging businesses of all sizes to create opportunities for families across the state and more money put back in taxpayers' pockets," Scott said.
The centerpiece of the tax cut plan is a $61 million reduction aimed at businesses. Florida charges businesses a 6 percent tax when they rent space. Under the tax cut plan Scott signed Thursday, that will drop to 5.8 percent. Scott asked the Legislature for a bill that would cut the tax by 25 percent.
The tax cut plan also incudes a 3-day back to school shopping holiday were school supplies and clothing will have no sales tax. That $33.4 million tax cut will cover Aug. 4 to Aug. 6. There is also a 3-day disaster preparedness sales tax holiday that runs from June 2 to June 4. That tax cut amounts to $4.5 million.