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Forecast shows state losing millions yearly because of tax cuts

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The state’s economic forecasters are predicting a hit to state coffers in years ahead because of tax breaks passed this legislative session. The losses total in the tens of millions each year until 2021, according to a report posted online Tuesday. Still, the lost revenue per year counts as less than a percent of the state’s annual budget, which this year is roughly $82 billion. And despite the tax cuts, the state’s Financial Outlook Statement shows general revenue should nonetheless grow every year. The Revenue Estimating Conference,…

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Abortion, budget, tax cuts among new Florida laws

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Florida legislators passed 279 bills during this year’s session three months ago, and 162 of them take effect on Friday with the start of the state’s fiscal year, affecting school choice, abortion, tax cuts and many more aspects of life in the Sunshine State. Here’s a roundup of some of the measures taking effect: BUDGET: The $82.3 billion budget was passed by a combined vote of 159-1. It includes more than $700 million for school construction and $203.8 million for…

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Associated Industries of Florida releases report card on lawmakers

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The Associated Industries of Florida report card is out, and the Florida Legislature received passing grades. Tom Feeney, the president and CEO of the Associated Industries of Florida, said the Florida Senate voted in favor of the business community 87 percent of the time, while the Florida House voted in favor of the business community 94 percent of the time. The annual Voting Record report is compiled by using actual votes cast as reported in the official state records. AIF…

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Rick Scott celebrates jobs and tax cuts in St. Pete

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Florida Governor Rick Scott is touring the state celebrating job creation and tax cuts. During a stop in St. Pete Monday on his “Million, Billion Jobs Victory Tour” Scott announced 44,300 new private sector jobs in the Tampa Bay area over the course of a year. The region’s unemployment rate also dropped one percent to 4.8 percent in January. The state unemployment rate is five percent. Scott stopped at Kobie Marketing in St. Pete for the announcement where that company…

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Rick Scott to launch jobs creation and “tax cut victory” tour

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Governor Rick Scott kicks off his “Million Billion Jobs” victory tour Monday. The self-proclaimed jobs governor is visiting five cities celebrating creating more than one million jobs in five years and $1 billion in tax cuts for Florida families over the past two years. “The debate in Florida is now about how we can create more jobs and how we can cut more taxes, which is a win-win,” Scott said. “I will always want more jobs and more tax cuts,…

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Tax cut package clears Legislature

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It was among the last on the list Friday, but the Legislature passed a tax-cut package worth $129 million. The Senate vote was 35-4, with four Democrats opposed: Dwight Bullard of Miami, Jeff Clemens of Lake Worth, Arthenia Joyner of Tampa and Oscar Braynon of Miami Gardens. That sent it back to the House, which passed it after some debate by 105-9. In the Senate, Clemens debated against the legislation, rattling off a list of Florida economic statistics that showed the state ranked poorly…

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Florida poised to approve a nearly $82.3 billion budget

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Putting behind a year’s worth of rancor, the Florida Legislature on Friday will approve a more than $82.3 billion budget that includes a slight boost in money for schools but also rejects many of Gov. Rick Scott‘s main priorities. Just a few months ago the Republican-controlled Legislature was rushing to pass a budget to avoid a state government shutdown. This time the House and Senate put together a spending plan for this year that increases the state budget by roughly…

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