Florida Senate releases proposed tax breaks
TALLAHASSEE - The Senate on Monday released a tax package that includes sales-tax holidays, along with breaks on baby and toddler products, Energy Star appliances, oral hygiene products and gas stoves.
The Senate Finance and Tax Committees on Tuesday will consider the package (SPB 7062), which would lead to $973 million in tax savings next fiscal year.
The Florida House proposed a $1.38 billion package last week.
Differences will be worked out over the next couple of weeks as the House and Senate negotiate a budget for the 2023-2024 fiscal year.
The largest part of the Senate plan is a three-month "Freedom Summer" sales-tax holiday, from May 29 through Sept. 4, that would allow shoppers to avoid paying sales taxes when they buy outdoor gear such as boating and camping supplies and children's athletic equipment.
It would be estimated to save shoppers $229.9 million.
A similar House proposal would total an estimated $231.3 million.
The Senate and House proposals also include two 14-day back-to-school tax "holidays" that would be held before the fall and spring terms.
Shoppers would be able to avoid paying sales taxes on clothes, school supplies, learning aids and many personal computers.
Both proposals also include a 14-day tax holiday on disaster-preparedness supplies around the start of hurricane season.
The period also would allow shoppers to avoid paying sales taxes on household goods, such as laundry detergent, fabric softener, toilet paper, soap, cleaning supplies and trash bags and a variety of pet supplies.
The Senate's disaster-preparedness period proposal, which is broader, would include an estimated $71.9 million in savings, while the House version is estimated at $46.2 million.