Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Gov. Scott touts advantages of cutting taxes for manufacturers

ST. PETERSBURG — Gov. Rick Scott talked up tax cuts for manufacturers at a St. Petersburg tech manufacturer Thursday, touting his top legislative priority as a key to creating jobs.

Part of Scott's $74.2 billion budget plan, the proposal would exclude the state's 17,000 manufacturing firms from paying sales taxes on equipment.

Manufacturers are now offered a tax cut for new machinery if they prove it boosted productivity by 5 percent or more. Scott's proposal would ax that requirement and ditch much of the tax break's red tape.

"The fact that we have this sales tax puts us at a competitive disadvantage to other states," Scott said.

"It's a barrier to putting more jobs in our state."

Manufacturers employ about 5 percent of the state's private workforce, state data show. Estimates show the tax cut would cost the state more than $140 million in revenue.

Scott spoke at Plasma-Therm, a manufacturer of etching machines that build semiconductor chips used in smartphones, hard drives and TVs.

In 2010, CEO Abdul Lateef said the firm had made $50 million in revenue every year over the previous decade.

To pass, Scott's tax cut would need two-thirds of the Legislature's approval. Many Democrats have voted for business tax breaks before, but the party has recently slammed Scott as promoting "tax giveaways to special interest cronies."

Rep. Mark Pafford, D-West Palm Beach, called it "trickle-down, voodoo economics."

Gov. Scott touts advantages of cutting taxes for manufacturers 02/28/13 [Last modified: Thursday, February 28, 2013 8:43pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Lightning takes defenseman Cal Foote with top pick in draft

    Lightning Strikes

    CHICAGO — Cal Foote said he was so young when his father, Adam, played in the NHL, he didn't remember their hug in the Avalanche's dressing room during the 2001 Stanley Cup celebration.

    Head shot of Times staffer Joe Smith. Joe Smith is the Tampa Bay Lightning beat writer for the sports department. Staffer mug shot taken in Times studio on Tuesday (06/20/17).
  2. Lightning journal: Plans set for 25th anniversary celebration

    Lightning Strikes

    CHICAGO — The Lightning revealed some of its plans for its 25th anniversary season Friday, including a ceremony to honor the 2004 Stanley Cup team.

    PHILADELPHIA, PA - JUNE 27:  Anthony DeAngelo of the Tampa Bay Lightning poses for a portrait during the 2014 NHL Draft at the Wells Fargo Center on June 27, 2014 in Philadelphia, Pennsylvania.  (Photo by Jeff Zelevansky/Getty Images)
  3. Lightning picks defenseman Cal Foote

    Blogs

    Cal Foote is the son of former Avs defenseman Adam Foote.
  4. Kids today: They don't work summer jobs the way they used to

    Business

    WASHINGTON — It was at Oregon's Timberline Lodge, later known as a setting in the horror movie The Shining, where Patrick Doyle earned his first real paycheck.

    Teens Ben Testa, from left, Hannah Waring and Abby McDonough, and Wegmeyer Farms owner Tyler Wegmeyer walk the strawberry rows at the Hamilton, Va., farm in late May.
  5. Jeb Bush back in the hunt for the Marlins, now opposing Derek Jeter

    Blogs

    Associated Press:

    Former Florida Gov. Jeb Bush has switched sides in pursuit of the Miami Marlins, and he’s trying to beat out former teammate Derek Jeter.