Tuesday, August 5, 2008

Florida Sales Tax Penny Can't Pay For Schools

Posted by Greg Hambrick on Tue, Aug 5, 2008 at 10:46 AM

Draw what conclusions you will, but Florida voters will be asked to replace property taxes for schools with a 1 cent increase in the sales tax. South Carolina approved a similar measure in 2006, with promises that any future shortfall will be made up. While Fla. Gov. Charlie Crist is a big advocate for that state's tax swap plan, other Republicans (yes, Republicans) oppose the measure because the 1 cent increase will not cover the lost tax revenue.

The amendment offers a few options, including spending cuts and charging sales tax on items that are currently exempt, such as lawyer fees and dry cleaning.

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