Let s Keep Working T ax Cuts

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1 Let s Keep Working T ax Cuts

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3 Cutting Taxes for Florida s Families Governor Scott believes Floridians know how to spend their hard earned dollars better than government does. That is why Governor Scott championed the It s Your Money Tax Cut Budget, where he cut over $500 million in taxes aimed to help the average Florida family. Reducing fees and taxes that directly impact Florida s families is an important step towards improving the public s confidence in government and keeping dollars in families hands to spend how they wish. During a second term, the tax cuts Governor Scott has already established will save Florida families more than $4 billion dollars. In contrast, another four years of Charlie Crist s tax increases would cost Florida families more than $8 billion dollars.

4 PROTECTING FLORIDA FAMILIES FROM INCREASED PROPERTY TAXES During Governor Scott s first year in office, he reduced property taxes by more than $210 million dollars. By working with local districts to keep this reduction in place, Floridians have saved more than half a billion dollars. Now, as Florida s economy and housing market recovers, families need protection from increasing property taxes more than ever. An improving economy should not mean a windfall in taxes to local governments, that s not fair to Florida s hard working families. Instead, it should mean more money in the control of families and businesses. Property taxes should not increase when the value of your property is not increasing. During a second term Governor Scott will propose amending Florida s constitution to prevent families property taxes from increasing year after year if the value of their homes remains the same or goes down. TAX HOLIDAYS FOR FLORIDA FAMILIES During my first term, Tax holidays for education, hurricane supplies and energy efficient appliances saved Florida families more than $140 million. By waiving taxes on key items our families need, the state helps Floridians prepare for school, become more resilient to tropical storms and hurricanes, and invest in making Florida a more energy efficient state. During a second term Governor Scott will propose more than $200 million in tax holidays that directly benefit our hard working families.

5 TURNING BACK CHARLIE CRIST S TAX INCREASES ON FLORIDA FAMILIES Florida s government must work to hold the line on increasing fees on Florida families and businesses. This year Governor Scott rolled back the increase in automobile registration fees that Charlie Crist mandated in Floridians will now save more than $400 million annually through lower fees. This will save the average Florida driver between $20 and $25. During a second term, Governor Scott will continue his work repealing fee hikes on Florida families put in place by Charlie Crist. For instance, in 2009 Crist signed legislation placing an additional fee of more than $100 on every vehicle a family buys, costing Floridians more than $120 million each year. Instead of taking responsible actions to balance our budget and grow our economy, Charlie Crist simply took more from our struggling families and drove our state further into debt. Eliminating additional unnecessary Charlie Crist fees would save Florida families almost half a billion dollars during my second term. REDUCING THE COMMUNICATIONS SERVICES SALES TAX Technology plays a growing role for every Florida family, providing greater opportunity for education, business, and improving the quality of our lives. Unfortunately, cell phones and other communication services, have also become a growing financial burden on Florida s families. Nationwide, consumers pay approximately $37 billion a year in communication taxes and fees, and low-income families are disproportionately affected, paying ten times as much as upper-income families do as a percentage of their annual incomes. GOVERNOR SCOTT Has Cut Taxes 40 Times in 4 Years Including These for Small Businesses Reduced Property Taxes for Homeowners and Businesses by $210.5 million in 2011 Doubled Tax Exemption for Business Income Now over 70% of Businesses are Exempt from Paying the Business Tax Eliminated Sales Tax on Manufacturing Equipment Currently, Florida families pay $2 billion in state and local communications services sales taxes. This represents one of the highest rates in the nation. That represents a tax rate of almost 20 percent on Jacksonville families. During a second term, Governor Scott will reduce the state Communications Services Sales Tax to save Floridians more than $120 million per year. While Charlie Crist may argue that Florida families can afford to pay an additional $25 to $50 dollars here and there, Governor Scott knows the right place for money is not in the hands of government, but in the hands of Florida citizens.

6 A Tax Policy that Makes Sense for Business During his first term, Governor Scott enacted commonsense tax reforms to spur investments in key industries and restored Florida s economy. During a second term Governor Scott will continue to position Florida as the leading state in the nation for businesses to thrive. PERMANENTLY ELIMINATE FLORIDA S MANUFACTURING SALES TAX Fostering growth in the state s manufacturing sector is critical to strengthening Florida s economy because it creates stable jobs for Florida families. Manufacturing has the largest return on investment of all industries in Florida. That is why Governor Scott elimintated the sales tax on manufacturing equipment until 2017, saving companies more than $140 million annually. This savings will allow the 17,500 manufacturing companies in Florida, that employ more than 300,000 Floridians, to expand, invest, and flourish during the next 4 years. Permanently eliminating this sales tax will ensure manufacturing is a solid pillar to Florida s economy and help to protect us from any future economic troubles.

7 ELIMINATE THE BUSINESS INCOME TAX TO MAKE FLORIDA THE EPICENTER OF BUSINESS Tax cuts provide more flexibility for the businesses and families. Under Governor Scott, the corporate income tax exemption has increased from $5,000 to $50,000. This has signaled to small businesses and corporations around the world that Florida is open for business. While new businesses are moving to Florida, existing businesses are expanding. During his next term, Governor Scott will continue to pursue a total phase-out of the business income tax, making Florida the number one state to start a business and increase jobs. ELIMINATE THE TAX ON SMALL BUSINESS RENT Florida is currently the only state in the nation to charge a tax on small business rent, adding $1.4 billion in costs each year for businesses across the state. This additional tax places Florida at a competitive disadvantage when attracting new businesses to the state, forcing landlords to charge more for rent than comparable facilities just across state lines. During a second term, Governor Scott will continue to demand that the Florida legislature phase out the six percent statewide sales tax on commercial leases.

8 Political advertisement paid for and approved by Rick Scott, Republican, for Governor.