Florida Gov. DeSantis signs $1B tax cut bill
TALLAHASSEE, Fla. (AP) — Floridians will save on items ranging from diapers and gasoline to auto racing tickets and energy efficient appliances under a $1 billion tax cut package signed into law by Republican Gov. Ron DeSantis on Friday.
The tax cut includes a one-year sales tax exemption on diapers and baby clothes, as well as a three-month exemption on children’s books. It also eliminates sales tax on tickets for the Daytona 500, any World Cup soccer matches and Formula One Grand Prix races.
DeSantis signed the bill in Ocala in front of a display of diapers.
“Families are going to be able to save for things that really matter to them,” DeSantis said.
The gas tax holiday will begin Oct. 1, or roughly a month before DeSantis seeks reelection, and is expected to save drivers collectively about $200 million.
As there has been in past years, the package also includes sales tax holidays for back-to-school clothes and supplies, and hurricane preparations.
There will be a sales tax holiday during the week of the Fourth of July holiday that exempts concerts, sports and other entertainment; camping and beach supplies; boating and fishing supplies; and pool supplies and gym dues and membership fees.
The package allows people who’s homes are destroyed by a catastrophe, such as the collapse of the condominium tower in Surfside, to have property taxes returned to them for the portion of time the homes are uninhabitable.
Farmers will save sales taxes on trailers and fencing equipment, skilled workers will have a seven-day tax holiday for tools and homeowners will be able to benefit from a two-year exemption on upgrades to strengthen windows and doors.