Tax Cut or Tax Swap?
A proposed constitutional amendment aimed at lowering property taxes was narrowly approved, again, by the state's Taxation and Budget Reform Commission.
With a one vote margin, the state tax commission decided to put a massive tax cut referendum on the November ballot.
The measure would reduce local school property taxes and possibly replace that money with higher sales taxes.
Barney Bishop, President and CEO of Associated Industries of Florida, says businesses oppose the idea that he says was initially 'sold' as a way to lower Florida's taxes.
'You are going to lower the taxes that come out of your left pocket,' Bishop says. 'But, don't believe that you're not going to pay the same taxes, you're just going to pay for it out of your right pocket.'
To make up for the cut in property taxes, Bishop predicts that the sales tax will be increased by one or two cents.
The tax commission put several other ballot measures on the ballot including the expansion of school vouchers.
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