OCALA, FLORIDA — Today, Governor Ron DeSantis announced the largest tax relief proposal in Florida history. Senate President Kathleen Passidomo and House Speaker Paul Renner joined the governor to announce their intent to pass legislation that would save Florida families a historic $2 billion during the 2023–2024 fiscal year.
The proposed tax relief plan is a part of the governor’s Framework for Freedom Budget proposal announced last week. Floridians would see a one year sales tax exemption on children’s items like books and toys, permanent sales tax exemptions on baby and toddler necessities, and an expansion of the annual back-to-school tax holiday.
SAVE UP TO $1,000
“Inflation continues to burden Florida families and we must fight back against rising costs by cutting the sales tax on necessary items,” said DeSantis. “We are able to provide this record $2 billion in tax relief because of our smart fiscal policies and strong reserves. It is important that we pass those savings on to Florida families so they can keep more of their hard-earned money in their own pockets.”
Last week, the governor announced the Framework for Freedom Budget, which is his proposed budget for Fiscal Year 2023–2024. The budget totals $114.8 billion, with total reserves exceeding $15 billion. According to DeSantis, an average Florida family could save up to $1,000 per year under this plan.
“While under the leadership of Governor DeSantis, Florida’s economy is booming, the pain of inflation due to the disastrous economic policies on the national level is very real for many Florida families,” said Senate President Kathleen Passidomo. “Florida cannot independently fix all of the problems created by the federal government, but we can and we will do our part to support Florida families by passing historic, broad-based tax cuts that help Floridians keep more of their hard-earned money.”
OUTPACING THE NATION
Governor DeSantis said his budget builds on Florida’s successes as the state continues to outpace the nation in building a robust economy. “We have to take a big chunk of this money [the budget surplus] and return it to the taxpayers!” The proposal includes a “Freedom Summer” tax holiday which will run from Memorial Day through September 4 and is estimated to save Florida families more than $224 million.
“Hard-working Floridians are tired of scraping by, having to do more with less because Washington politicians refuse to cut wasteful spending or curb inflationary policies,” said House Speaker Paul Renner. “Floridians can count on Governor DeSantis and their state legislators to balance our budget and strategically build up reserves. I look forward to working with the Governor, Senate President Passidomo, and our colleagues in the House and Senate to deliver meaningful tax relief for families when they need it most.”