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February 25, 2021

Breaking from big business, some Florida Republicans call for closing corporate tax loopholes [Orlando Sentinel]

This post was last updated on September 29, 2021. As new policies are announced, FPI will update this page.

As Florida’s response to COVID-19 takes front and center, concern grows for low-income families who struggle to take precautions against the spread of the virus. Although Congress has passed the Families First Coronavirus Response Act to address, at least in part,  the public health crisis and economic fallout from COVID-19, many barriers continue to keep struggling families from accessing the assistance they need during the pandemic. As Florida initiates policies implementing the Act and addressing other barriers to the safety net, FPI will update this form. When available, hyperlinks are provided to agency documents or statements that provide greater detail  about the new policy.

On March 22, 2020, FPI and 44 other organizations sent a letter to Governor DeSantis, leadership in the Legislature and agency heads to urge action on 47 specific policy changes to reduce unnecessary barriers for Florida’s safety net programs in response to the COVID-19 pandemic. See the letter here.

Caroline Glenn writes:

"Florida Democrats have tried and failed for years to close loopholes in the state’s tax code that allow big corporations to shift money to other states, a strategy that some analysts estimate costs Florida half a billion dollars annually.

But this legislative session, it’s a Republican lawmaker pushing to clamp down on tax avoidance by corporations, in an apparent break from other GOP legislators and big business lobbyists who have fought hard to keep Florida’s tax laws as lax as possible.

...

The bill calls for the money raised from the change to be used to offset another business tax. The Florida Policy Institute, an Orlando research nonprofit, estimates Florida could raise $477 million annually in taxes from combined reporting [emphasis added]."

Read more on sun-sentinel.com

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