FL Gov Wants to Cut $4B in Taxes
CNN reports:
Taking an unusual tact to dealing with a $3.6 billion budget deficit, Florida Gov. Rick Scott unveiled a budget Monday that cuts $4 billion in property and corporate income taxes.
The budget, which the newly installed governor has said is the nation's most fiscally conservative, also cuts $5 billion in spending from services such as Medicaid and prisons. Public employees would also have to contribute 5% for their pension benefits, which will save $2.8 billion over two years.
"It clearly is a lean budget," said Scott, a tea party favorite who unveiled his budget at a rally for tea party supporters, who applauded loudly for his calls to reduce state spending.
Scott said he will not cut state spending for education, but schools will likely be squeezed from the drop in property taxes.
The governor also wants to reduce Medicaid costs by shifting to a system where the patients direct their care. This will reduce their health care usage and save the state $400 million over two years, he said.
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