The Cost of Corporate Giveaways report reveals proposed legislation costing Floridians more than $10 billion in tax dollars over the next five years
FOR IMMEDIATE RELEASE
February 12, 2024
Contact: Nadeska Concha, nadeska@floridaforall.vote, (813) 482-4161
TALLAHASSEE, FL – The People’s Budget Florida, a project of Florida For All Education Fund and coalition partners, has released their annual mid-session report, titled “The Cost of Corporate Giveaways.” The report details a long list of corporate giveaways up for consideration during the 60-day legislative session, scheduled to conclude March 8th. The corporate tax giveaways alone would cost Floridians approximately $10.1 billion in public dollars over the next five years.
According to the report, among the corporations and industries benefiting from the giveaways include monopoly utility companies, theme parks, big sugar, and factory farms, along with billionaire campaign donors.
Some of the big ticket corporate tax giveaways in the bills that are being considered by the legislature during this session are:
- HJR 331/SJR 1060, a property tax break for corporations and owners of vacation homes that could cost Floridians billions
- HB 471/SB 886, a property tax break for timeshare developers like Disney and Marriott
- SB 230 & HB 269/SB 264, a sales tax break on private jets and other airplanes
- HB 769, a property tax break for methane producers like Chesapeake Utilities
“No matter what we look like, who we love, or the place we call home, Floridians of all backgrounds work hard to provide for our loved ones and pay the taxes we owe to build a brighter future for all of us,” said Jackson Oberlink, Legislative Director with Florida For All Education Fund. “The legislative session is when state lawmakers decide how to budget those tax dollars. Our mid-session report details the choice they have– they can fund healthcare, housing, and education, or they can pass more corporate giveaways to the benefit of billionaires.”
“Knowledge is power. That’s why it’s critical Floridians know the proposals being considered this legislative session– especially corporate giveaways like those detailed in this report,” said Yenisbel Vilorio, Florida State Director with State Innovation Exchange. “Corporate giveaways are designed to be difficult to understand and follow; it is our hope that by laying them all out in one report, Floridians are empowered to engage in budget and policy debate.”
Click here for the full mid-session Cost of Corporate Giveaways report.
Learn more about The People’s Budget Florida: peoplesbudgetfl.com
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Florida For All Education Fund is a statewide coalition of six organizations — Florida Rising, Florida Immigrant Coalition, Faith in Florida, Central Florida Jobs with Justice, Dream Defenders, and SEIU — that align across constituencies and geographies to organize our community power and build a Florida where we all have the freedom to thrive. We are the heroes we’ve been waiting for. For more information, visit floridaforall.vote.
