Tax Cut Bills Move Through the Florida House Committees

A committee in the Florida House of Representatives approved two bills this week. One would create a week-long sales tax holiday in the summer so parents can save a few bucks on their back to school shopping. The other would phase out the state tax on stocks and bonds.

The bills are traveling through the Legislature together, but Gov. Jeb Bush says both can stand on their own merits.

"Nothing has to be linked to anything. I support both," says Gov. Bush.

The tax break bills are expected to pass the House, but they could run into trouble on the other side of the capitol. The Senate President Jim King of Jacksonville says budgets are tight and they can't afford to hand out more tax breaks.

Democrats also oppose the elimination of the tax on stocks and bonds because the only people who would get a tax break would be those with portfolios worth at least a quarter of a million dollars.


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