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4w ago

Florida House Speaker Proposes Largest Sales Tax Cut in State History

Daniel Perez's plan to reduce the state sales tax to 5.25% would save taxpayers $5 billion annually but necessitate significant spending cuts.

Vehicles drive along I-95 as they leave the downtown area on June 30, 2022 in Miami, Florida.
Speaker Daniel Perez addresses lawmakers at the organizational session of the Florida House in Tallahassee on Nov. 19, 2024. (Courtesy Florida House of Representatives/YouTube)

Overview

  • Florida House Speaker Daniel Perez introduced a proposal to permanently lower the state sales tax from 6% to 5.25%, the largest tax cut in Florida's history.
  • The tax reduction, announced during the opening session of the 2025 Legislature, is projected to save Floridians $5 billion annually.
  • The proposal requires offsetting the revenue loss with significant spending cuts, raising concerns about potential impacts on public services.
  • The Florida Legislature has until May 2, 2025, to finalize the budget and tax package, which must then be approved by Governor Ron DeSantis.
  • The initiative aligns with broader Republican-led tax relief efforts, including Governor DeSantis' proposal to cut property taxes, though that plan requires a constitutional amendment.