Florida Gives Budget Surplus Back

Florida is projected to run a large budget surplus and so the state just passed a bill into law that would give tax breaks to Florida resident struggling to battle inflation. And that is the way it should be.

When the Federal government was giving out money for coronavirus relief, it gave states more money than they could spend. Literally. Almost every state in the Union is running budget surpluses in the hundreds of millions of dollars and for large states it is in the billions.

Rather than start some new government programs, that would create spending for years to come, Florida decided to help people and families that are battling inflation. The new law creates tax breaks for things from diapers and baby formula to new tools for the skilled trades. It suspends the state gas tax for a month and, in addition to the normal tax holidays for the back to school and hurricane seasons, it creates a tax holiday for things such as canoes and kayaks to start the summer.

The total package will return an estimated $1.1 billion to citizens of Florida, money that originally was to be taken by the Federal government in taxes. Well done, Florida.

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