WEST PALM BEACH, Fla. — The proposal from the Florida House Speaker to cut the state sales tax seems to be gaining fast support.
"I think it's a lot shorter putt to do a sales tax cut than a property tax cut," former state Sen. Jeff Brandes of the Florida Policy Project said.
When speaking to WPTV on Thursday, Brandes pointed out that cutting the sales tax would not require voter approval, unlike raising the Homestead Exemption.
Proposals to lower or even eliminate property taxes have set off alarms among some who say the lost revenue to counties and cities would mean deep cuts to services and higher sales taxes.
"These (sales) taxes do overburden families with low to moderate incomes," Esteban Santis of the Florida Policy Institute.
The proposal to cut the state sales tax from 6% to 5.25% is predicted to save taxpayers $5 billion. However, the Florida Policy Institute cautions that lost revenue to the state may come at a cost.
"How are we going to make up the $5 billion in a way that we don't have to resort to some deep budget cuts?" Perez said.
Brandes said it may take some time to realize the full impact a sales tax might have on the state.
"I think once we see what this does to the budget over the next five to 10 years, I think people will sober up and see what the tax cuts will look like," Brandes said.
