Thursday, February 18, 2010
A new report from The Tax Foundation, concludes that Florida's plan to re-implement a back to school sales tax will not live up to the promises of significant tax relief and state economic growth. The state wants to bring back the popular tax holiday this August as parents and teachers missed the it last year. State Senator Mike Fasano outlines the agenda. The plan to bring in state revenue may sound good but as Tax Foundation Economist Mark Robyn says the "tax holiday" does not benefit the economy in any way. Despite the report, proponents of the bill like Fasano say these tax "relief" policies are what the people need in tough economic times, especially since it's a win-win for the state economy. Robyn suggests instread of discriminating or targeting certain consumers such as parents and educators a more efficient way to raise funding is to provide relief for any consumer. Discussing the current proposal will be a part of next month's state legislative session. The Tax Foundation is a nonprofit organization that monitors fiscal policy at federal, state, and local levels.