The Property Casualty Insurers Association of America (PCI) today called on Florida lawmakers to oppose the salary tax credit legislation that passed the Senate and was immediately certified to the House this morning.
“PCI and its member companies urge members of the House to oppose the salary tax credit legislation that would raise taxes on insurance companies, who have consistently placed clean, high-wage and sustainable jobs in the Sunshine State,” said Donovan Brown, state government relations counsel for the PCI. “Florida businesses are already taxed enough, and removing this tax credit would hamper job growth within the state.”
“This 15 percent performance-driven tax credit is a part of the overarching consideration that our member companies take into account when deciding to place or maintain jobs in Florida. And, we believe it is working,” concluded Brown.
PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $190 billion in annual premium, 40 percent of the nation’s property casualty insurance. Member companies write 46 percent of the U.S. automobile insurance market, 32 percent of the homeowners market, 38 percent of the commercial property and liability market, and 41 percent of the private workers compensation market.