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T a x R e l i e f a n d J o b G r o w t h | ||||||||||||
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Just over a decade ago, Florida had one of the highest state tax rates in the country due to failed policies and a “tax and spend” mentality. Change was imminent. The economic environment bloated by big government, higher taxes, and reckless spending began to dissipate. President Ronald Reagan showed our nation the importance of allowing Americans to keep more of their hard-earned money with historical tax relief and it was important that Florida followed his lead. Since 1998, more than $15 billion has been returned to overtaxed Floridians— all while Florida was still able to fund vital education, health care and public safety programs at historic levels — Our once sluggish economy soared to amazing heights. Limited Government and Fiscal Responsibility I understand the importance of limited government and fiscal responsibility, and have worked to turn these guiding principles into lower taxes, increased employment opportunities, lower workers' compensation rates, a strong economy and a thriving business-friendly state. I also believe that people spend their own money better than the government can. When the tax burden is reduced, Floridians can put their money back into their family budgets or use it to save for the future. One of the primary responsibilities of government is to provide incentives for people to save and invest. For this reason, I have worked towards the elimination of the retirement tax (also called the intangibles tax), increasing the incentive to save and invest. Additionally, the Legislature has encouraged families to provide a solid educational foundation for their children by creating a tax free holiday for “back to school” supplies prior to the start of the school year. We know that children need the right tools to learn, and that a small break goes a long way. When it comes to hurricane season, my colleagues and I acknowledge that the government is not the only answer, and that the smartest policy is advance planning. Thus we created a new sales tax holiday on hurricane preparedness supplies, which many Floridians have taken advantage of to protect their families. Investing in the Future Lowest Unemployment Rate in State History — 3.1%
Knowing that a business-friendly environment is key to long-term solvency, Florida employs fiscal discipline to build a strong, business-focused economy. To counteract historic high taxation and big spending, Florida's business climate was provided with tax credits for businesses through the Capital Investment Tax Credit Program. From small businesses to multi-national corporations, I believe a clear message needs to be sent that this state is a great place to do business, and we will continue to work on incentive plans that bring businesses and high-paying jobs to Florida. Today, our state is ranked first in the southeast and fourth in the nation for job growth. With 8.5 million workers in Florida — up from 6.7 million in 1999 — we are celebrating the lowest unemployment rate in state history: 3.1%. Our financial discipline has paid off, and our unwavering commitment to building a sound economic foundation is clear. We all reap the benefits of lowering taxes and reducing government red tape. For the last ten years, the era of big government and the “tax and spend” mentality has virtually disappeared in the Sunshine State. I believe that fiscal conservatism and responsible spending are best for our state, and will continue fighting for these principles in years to come. Report Card
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It
is also vital to understand the importance of preparation at the governmental
level, which is why I remain committed to maintaining a “rainy
day” fund. Repeated calls to recklessly increase spending have
wisely been disregarded, because it is not fair to ask constituents
to save and prepare if the government is not willing to do the same.
A recent upgraded bond rating of AAA from Standard and Poor is evidence
of Florida's sound fiscal discipline and the prudent stewardship of
sound fiscal discipline and prudent stewardship.