March 21, 2017

Tallahassee, Fla. – The Associated Industries of Florida (AIF) today released the following statement on behalf of its President & CEO Tom Feeney regarding opposition to Senate Bill 378, by Senate President Pro Tempore Anitere Flores, relating to Taxation.

“AIF supports reducing the business rent tax. However, we cannot support this tax break on the back of creating what would be the largest Florida tax hike in many years if the insurance premium tax salary credit is repealed.

“Florida is one of only a few states that have two separate taxes for insurers – a corporate income tax paid by all businesses and a second, punitive tax on the insurance premiums paid by Floridians.  The removal of the working tax credit would make premium tax collections from insurers in Florida increase by $297.3 million.

“Florida simply cannot risk the future creation of new high-paying insurance jobs or the loss of such existing jobs.  We need a predictable, business-friendly environment that includes reasonable incentives for corporations large and small to do business in Florida.  That is what keeps Floridians working and Florida-based companies giving.”

Known as “The Voice of Florida Business” in the Sunshine State, AIF has represented the principles of prosperity and free enterprise before the three branches of state government since 1920. A voluntary association of diversified businesses, AIF was created to foster an economic climate in Florida conducive to the growth, development, and welfare of industry and business and the people of the state.

For more information on AIF, please visit AIF.com and follow @VoiceofFLBiz.

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