Senate prez dashes guv’s hopes for biz tax cutsby Dara Kam | January 12th, 2011
With a $3.5 billion budget hole looming, Senate President Mike Haridopolos said it’s highly unlikely that lawmakers will approve any new – or expand any existing – tax breaks for businesses.
That would put Gov. Rick Scott’s plans to do eventually do away with the state’s corporate income taxes on hold, at least for this year.
“I don’t see that happening at this point. That’s something I’d like to do. But we’re $3.5 billion short and the promise of no tax increases, I don’t see the math yet. But Rick Scott is a very able executive. If he and his budget team can find a way to make it happen, we’re going to be all ears,” Haridopolos, R-Merritt Island, told reporters during a Q-and-A this afternoon.
No more tax breaks would also put on ice Scott’s proposed expansion of school vouchers paid for by businesses, one of the governor’s top priorities.
“There’s probably no bigger advocate of tax cuts in the legislature,” Haridopolos said. “I’m a big proponent of tax cuts. This is not a year I can afford to push them through.”