Florida Gov. Ron DeSantis on Feb. 8 announced a budget proposal that included $2 billion in tax relief for residents in the 2023-24 fiscal year.
The cuts target primarily families and include a one-year sales-tax exemption on children’s items such as books and toys; a permanent sales tax exemption on baby and toddler necessities such as clothing, cribs, and strollers; and an expansion of the annual Back to School tax holiday.
The average Florida family could save up to $1,000 a year under this plan, DeSantis said.
“Inflation continues to burden Florida families, and we must fight back against rising costs by cutting the sales tax on necessary items,” DeSantis said. “We are able to provide this record $2 billion in tax relief, because of our smart fiscal policies and strong reserves. It is important that we pass those savings on to Florida families, so they can keep more of their hard-earned money in their own pockets.”
The proposed plan is a part of DeSantis’ $114.8 billion Framework for Freedom Budget proposal.
The tax relief proposal also includes a “Freedom Summer” tax holiday that would run from Memorial Day through Sept. 4. This holiday is estimated to save Florida families more than $224 million.
This holiday would include the following:
• Admission to events and performances such as concerts, movies and sporting events
• Admission to state parks and museums
• Boating and water activity supplies
• Camping supplies
• Fishing supplies
• Sports equipment
• Residential pool supplies
The proposal also includes a permanent sales-tax exemption on gas stoves, which is estimated to save Florida homeowners $7 million. Additionally, the plan proposes a two-year extension of the sales-tax exemption on natural gas fuel, estimated to save Floridians $1.2 million, as well as a one-year sales tax holiday on Energy Star appliances.