Floridians are expected to save $1.2 billion, thanks to the largest tax relief package in state history signed Friday by Gov. Ron DeSantis.
There’s a lot to unpack in the new law, but it contains some of the holidays we’ve seen before.
Back-to-school tax relief is back again this year, only this time it will be four days longer, running a full two weeks from July 25 through August 7.
There’s also a two-week disaster preparedness holiday where items like batteries, flashlights, and more will be tax-free.
“We pride ourselves on being prepared for a disaster like hurricanes. You know, we pray we don’t get hit with a big one, but you got to prepare. You gotta be ready,” said DeSantis.
Both holidays have some big-ticket items included.
Starting May 28, you can save up to $70 on a generator, and during the two-week back-to-back school sales tax holiday, you can save up to $105 on a laptop computer.
Back again for the second year in a row is “Freedom Week”, where outdoor supplies like camping gear and other recreational items like concern and event tickets will be tax-exempt.
“So that families can afford a fun summer,” said DeSantis.
Those three holidays make up just shy of $200 million of the total $1.2 billion in tax relief.
The bulk of the savings in this year’s tax package actually comes from brand-new holidays, including a one-month gas tax holiday in October set to reduce prices at the pump by 25 cents a gallon.
During the bill signing event, DeSantis touted the $200 million holiday, at the same time condemning President Biden for not offering similar relief at the federal level.
“You know you’ve not seen any real relief and to say you’re just going to take some from the strategic petroleum reserve, that’s a political stunt,” said DeSantis.
While the governor hit Biden for politicking around gas prices, some critics have pointed out that the timing of the gas tax holiday is just before the November election, which also seems political.
Jacksonville resident Matt Dodson said he could use the relief now, but he’s not complaining.
“I think everything is a little political, but we’ll take what we can get,” said Dodson.
Also new this year is a weeklong
tool time” tax holiday covering power tools and other items used in skilled trades.
Plus there are some long-term tax cuts, including a one-year tax cut for Energy Sar appliances; two years for impact-resistant windows, doors and garage doors; and a full year of tax relief on children’s clothes, shoes, and diapers.
“When you have prices going up, there are certain things you can’t cut back on, you got to do the diapers; there’s really no way around that,” said DeSantis.
Last but not least, there’s a three-month tax holiday on children’s books starting in just eight days.
“Because we know the importance of reading to children when it comes to early learning development,” said Florida Florida Department of Children and Families Secretary Shevaun Harris.
Even with the tax relief offered this year, the governor said he expects the state’s reserves to top $20 billion by the end of the fiscal year on July 1, ensuring the state will have a supply of rainy day funds to weather the upcoming economic hardships that will lie ahead.
For a full list of items covered under this year’s tax holidays, CLICK HERE.
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