Gov. Rick Scott announces budget, includes $500M in tax cuts

William DeShazer/Staff 
Governor Rick Scott addresses employees during the opening of the Arthrex Manufacturing East, a new surgical device and manufacturing facility, in Naples on October 03, 2013. The new 190,000 square foot facility has 500 employees.

Photo by WILLIAM DESHAZER // Buy this photo

William DeShazer/Staff Governor Rick Scott addresses employees during the opening of the Arthrex Manufacturing East, a new surgical device and manufacturing facility, in Naples on October 03, 2013. The new 190,000 square foot facility has 500 employees.

— The wish list is long.

There’s $560 million in tax cuts. Add to that the $18.84 billion for K-12 public education. Tack on $60 million to support the expansion of the National Cancer Institute.

All told, Florida Gov. Rick Scott of Naples has proposed a $74.2 billion fiscal 2014-15 budget.

The proposed budget comes in at the same level as the one he proposed this time last year and is slightly larger than the fiscal 2013-14 budget he signed into law during the summer.

Scott, who formally outlined his budget Monday morning during the annual Associated Press meeting in Tallahassee, said his budget focuses on “three major priorities” -- cutting taxes; reducing state debt; and eliminating government waste.

Scott has spent the past few weeks traveling the state promoting his budget -- dubbed the “It’s Your Money Tax Cut Budget” -- and has slowly rolled out dozens of proposals, including reducing motor vehicle license fees.

That proposal was pushed during the 2013 legislative session by Sen. Joe Negron, R-Stuart, but made little progress. Scott included it in his 2014-15 budget proposal.

The reduction would roll motor vehicle license renewal registration fees back to pre-2009 levels, resulting in an average savings of about $25 for a typical car.

“The biggest piece of our tax cut package is a tax cut of more than $400 million by eliminating the 2009 annual motor vehicle tax increases,” Scott said. “This budget will undo that tax hike and give financial relief to the millions of Floridians who are paying fees on over 13 million annual registrations.”

The budget also includes a reduction in sales tax on commercial rents, an additional cut to the state business tax, and lowers business filing fees by more than $33 million.

But perhaps the biggest tax break comes in the form of two tax sales tax holidays in 2014.

Scott has proposed a 10-day back to school sales tax holiday and a 15-day hurricane preparedness sales tax holiday in 2014.

“These two sales tax holidays will save Florida families more than $82 million as they buy hurricane and school supplies,” he said.

Return to naplesnews.com for more on this developing story

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Posted earlier

Florida Gov. Rick Scott on Wednesday morning announced his $74.2 billion fiscal 2014-15 budget.

The budget, dubbed the Its Your Money Tax Cut Budget, included more than $500 million in tax cuts, $18.84 billion for K-12 public education; and $130 million for Everglades restoration projects.

Scott, a Naples Republican, used his budget announcement to take a swipe at former Gov. Charlie Crist, his likely challenger in November. Crist, the former Republican governor, is now running for the seat as a Democrat.

“Florida shed more than 8000,000 jobs in the four years before we took office. Taxes increased Debt increased. And the unemployment rate rose. Florida was in a hole and for four years it simply kept digging,” said Scott. “Our state is heading in the right direction. We have a bright future ahead. It’s working.

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