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Associated Industries Applauds the Bush/Jennings Budget Plan

Januaryy 28, 2005

TALLAHASSEE — Associated Industries of Florida (AIF) applauds and supports Governor Jeb Bush’s and Lt. Governor Toni Jennings’ Executive Budget Recommendations for 2005-2006. It contains the proper balance of tax cuts and incentives to promote Florida’s economy and enable it to continue to grow and prosper. Florida leads the nation in job growth, and with the Bush/Jennings proposal Floridians can expect job stability and the potential of higher paying jobs. Repealing the substitute communications systems tax, eliminating the intangible tax and expanding the sales tax exemption for machinery and manufacturing will put Florida in a significantly more positive economic status as we compete with neighboring states to attract high paying jobs to the Sunshine State.

Other areas that will help Florida’s economy are included in the economic development incentive cited in the Bush/Jennings proposal -- such as funding for the Quick Action Closing Fund, which would allow the Governor to provide incentives on economic development projects that require immediate action; Qualified Target Industry tax refund programs; Qualified Defense Contractor tax refund program and Brownfield Redevelopment bonus refunds -- all which will help to spur job growth.

“Florida, under six years of Governor Jeb Bush’s strong leadership, has enjoyed significant growth in its economy. We clearly believe it is because of his pro-active economic policies, which balance strategic tax cuts with pro-growth tax incentives. This is a great proposal which will keep Florida on the leading edge of jobs and growth,” says AIF President Barney Bishop III.

AIF will work diligently with the Governor and the Legislature to help implement this comprehensive Bush/Jennings budget proposal.

In addition, we certainly applaud the Governor for proposing a three-year outlook on the budget, which is in line with the desires of Senate President Tom Lee to provide enhanced budget planning for future years.

For more detailed information on the Bush/Jennings budget plan  and how it helps the Florida business community, Click Here