August 29, 2022

Florida’s broken tax code needs to be overhauled, says report from Florida Policy Institute

Douglas Soule writes:

"Florida’s outdated tax code is broken, costing the state billions of dollars in forfeited revenues, and gets too little scrutiny from state lawmakers during its annual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 [emphasis added] 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.


'In an ideal world, Florida policymakers would only use tax expenditures when they have a strategic plan to promote a positive and equitable public outcome paired with a commitment to evaluate their impact,' Santis writes in the report. 'Instead, policymakers write tax expenditures into the tax code without an expiration date or evaluation plans.'"


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