Florida’s broken tax code needs to be overhauled, says report from Florida Policy Institute – By Douglas Soule (USA Today Network – Florida) / Aug 29, 2022
TALLAHASSEE — Florida’s outdated tax code is broken, costing the state billions of dollars in forfeited revenues, and gets too little scrutiny from state lawmakers during its annual legislative session, says a new report.
Released Monday by the progressive Florida Policy Institute, the report estimates the state lost more than $23 billion through credits, exemptions or deductions in the last fiscal year, which ended June 30. The FPI is calling for a simpler, fairer state tax system.
Esteban Leonardo Santis, a FPI policy analyst who authored the report, said the tax subsidies — what the report calls “silent spending” — raise questions as to whether Floridians would better benefit from using those lost revenues to pay for improving public services, from infrastructure to education.
