The current emphasis in Tallahassee on cutting state taxes obscures important facts about Florida's tax system and about choices available to balance the budget and meet the needs of Floridians.
Florida is a low-tax state. In addition, the amount paid by corporations relative to total income in Florida is shrinking. Moderate- and low-income taxpayers are paying a greater share of the tax load.
Despite a budget gap that exceeds $4 billion, Florida's leaders are not considering a balanced approach including closing tax loopholes to fix the budget shortfall.
Closing loopholes to raise revenues for state needs is an alternative to the path of tax and spending cuts being taken by political leaders this year. Reforming the tax structure would minimize cuts to services and make the tax system more fair.
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