Governor to Propose $1.1 Billion in Tax Relief During Next Legislative Session
Bradenton - Tuesday September 20, 2022: Governor DeSantis announced that he will propose $1.1 billion in tax relief for Florida families for consideration by the Florida Legislature during their 2023 legislative session.
The relief, if approved, would be in the form of "multiple tax holidays," according to a release from the Governor's office.
Included in the proposal is an expansion of the annual Back to School tax holiday and permanent tax exemptions for baby and toddler items, in addition to a yearlong tax exemption on other household items families need every day.
Details on the proposal can be found here.
At a news conference in Bradenton Tuesday morning the Governor said the proposal "will allow families to purchase items for their children at a lower cost and help families keep more money in their pockets" and he looks "forward to working with the Legislature to bring this major relief to Florida families.”
The proposal includes tax holidays on items frequently purchased by Florida families:
• Reinstates the two-week Back to School tax holiday for families in the fall and adds an additional two-week holiday in the spring for children returning to school after the winter break. The two holiday periods would save Florida families an estimated $210 million.
• A permanent tax exemption for baby and toddler necessities including diapers, baby wipes, clothing, and shoes for children under the age of 5. This would save Florida families an estimated $132.5 million.
• A permanent tax exemption for cribs and strollers. This will save Florida families an estimated $4 million.
• A permanent tax exemption on items that contain medicinal ingredients and medical equipment to close the gap on medical supplies and equipment that is not sales tax exempt. This would save Florida families an estimated $58.5 million.
• A 1-year tax exemption for household items under $25 like laundry detergent, toilet paper, paper towels, hand soap, and trash bags. This would save Florida families an estimated $112.3 million.
• A 1-year tax exemption for children’s books for children under 17 years old. This will save Florida families an estimated $16.8 million.
• A 1-year tax exemption for children’s toys designated for children between the ages of 2-12. This would save Florida families an estimated $116 million.
• A 1-year tax exemption for children’s athletic equipment like children’s bikes, footballs, soccer balls, rollerblades, baseballs, baseball bats, etc. This would save Florida families an estimated $33 million.
• A 1-year tax exemption on pet food for household pets and a permanent tax exemption for over-the-counter pet medications such as flea and tick prevention. This would save Florida families with pets an estimated $189 million.
The proposal also includes a continuation of tax holidays for the 2023-2024 fiscal year:
• 2-week Disaster Preparedness Tax Holiday
• 1-week Tools and Home Improvement Tax Holiday
• 1-week Freedom Week Tax Holiday
• 1-year Energy Star Appliance Tax Holiday
This tax relief proposal is in addition to the statewide toll relief proposal announced by the Governor earlier this month.
The proposed toll relief plan would provide a 50 percent discount for commuters with more the 40 toll transactions in a month, saving the average commuter an estimated $550 over one year and impacting approximately 750,000 Floridians who frequently commute.