Gov. Rick Scott, who has warned for weeks that he may veto the state budget if he did not get a cut in the state? corporate income tax, has reached a deal that calls for a much smaller cut than what the governor initially advocated, reports Gary Fineout.
But the deal will likely end all talk of a budget veto and it will give Scott a chance to claim a substantial win during his first legislative session.
House Speaker Dean Cannon and Scott discussed the plan by phone call on Monday night, a spokeswoman for Cannon confirmed.
Scott had asked for a $458 million cut by rolling back the current corporate income tax rate from 5.5 percent to 3 percent. But Scott also wanted a bill that would phase out the tax over the next seven years, saying it was needed to help jumpstart the state? economy. Keep reading Gary Fineout’s article here.