Phil Ammann
Associated Industries of Florida (AIF) is applauding Gov. Rick Scott’s call for $1 billion in tax cuts for small businesses and manufacturing.
As reported Thursday, Scott recommended the amount even though it is likely the Republican-controlled Legislature will resist such a massive tax cut package. The governor is arguing for dramatic cuts, saying that it will prepare the state’s economy for the next downturn.
AIF President and CEO Tom Feeney predicted the package will aid business, and “diversify the economy” in the Sunshine State by significantly helping attract new businesses.
“AIF agrees that the Governor’s commitment to permanently eliminate the income tax on manufacturing and retail businesses, as well as manufacturing machinery and equipment, is an enormous savings to our Florida businesses,” Feeney said in a prepared statement.
“We look forward to seeing these tax cuts come to fruition for the business community,” Feeney said. “Lowering these taxes is good for job creation, good for diversifying our economy and good for Florida’s employers.”
Last year, Scott’s push for tax cuts focused more on residents, such as cuts in cellphone and cable television taxes. This year, the attention is on larger cuts targeted on businesses, which include eliminating corporate income taxes on manufacturers and retailers.
If enacted, ending corporate income tax could save as much as $770 million a year.
Known as “The Voice of Florida Business,” AIF – the Florida affiliate of the National Association of Manufacturers – advocates for prosperity and free enterprise before the state government since 1920. A voluntary association AIF was created to foster an economic climate in Florida conducive to the growth, development, and welfare of industry and business and the people in the state.
