STATEMENT: Gillum Announces “Fair Share for Florida’s Future” Plan
TALLAHASSEE, Fla. – Tallahassee Mayor Andrew Gillum today unveiled “Fair Share for Florida’s Future,” a plan to invest more than $1 billion in the middle class, education, and job training, by adjusting the state corporate income tax rate.
“Thanks to President Trump’s tax scam, Florida’s richest corporations will take home even more sacks of money than they already do,” said Gillum. “For decades they’ve gotten richer and richer, while working families have fallen further behind. Now, I’m proposing that the tiny fraction of Florida’s richest corporations pay their fair share, so we can invest in working families through world class public schools, a pay raise for teachers, early childhood education, and SHOP 2.0 vocational training.”
In Florida, around 90% of corporations already pay no state corporate income tax — those that do pay only 5.5% — lower than bordering states Alabama and Georgia. These large corporations will pay about $6.2 billion less in federal taxes this year.
The “Fair Share for Florida’s Future” Plan:
Adjusts the state corporate income tax rate on large corporations to 7.75%.
Invests the added recurring revenue in:
At least $100 million in public school construction in the PECO (Public Education Capital Outlay) Fund, a year after Republicans’ disastrous H.B. 7069 legislation.
At least $400 million in pay raises for public school teachers
At least $250 million in early childhood education programs including standardizing providers’ information
At least $100 million in SHOP 2.0/Vocational Training including higher education extension courses for adults and expanded technology classes in high schools
“For decades Florida’s tax structure has been tilted away from working people and heavily in favor of the richest corporations. By investing in public education and workforce training, the Fair Share for Florida’s Future plan will be a job creator for Florida’s working families,” said Karen Woodall from the Florida Center for Fiscal and Economic Policy.