wmbb.com - Gov. Crist Reveals Tax Relief Plan in Panama City
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Gov. Crist Reveals Tax Relief Plan in Panama City
01/26/10 - 06:13 PM
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Elizabeth Cate - bio
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click for larger image Panama City, Fla:

The Governor’s tour to present economic opportunities took a pit stop in Panama City. At Berg Steel Pipe, he put on his hard hat and got down to the dollar details.

“Our attitude is every little bit helps. Everything you can possibly do to ease the burden, especially during these economic times, it’s important to do it,” said Governor Charlie Crist.

The plan is to provide tax relief to strengthen businesses like Berg Pipe. That’s why Governor Crist recommends a corporate cut of 1% on the first $1 million dollars of taxable income. That takes the current rate from 5.5% to 4.5%. It saves businesses across the state more than $55 million.

To Berg Pipe, it could be a help.

“It’s refreshing to see tax cuts to encourage business, rather than taxing businesses to bail out government,” said Berg Steel Pipe President, David Delie.

Berg Pipe produces 300,000 tons of steel pipe a year and Delie says, if he can save money, he’s all for it.  But the governor says, it’s not just about money saved, its about jobs created.

“It’s about jobs, jobs, jobs, and the most important thing we can do is make sure that our fellow Floridians have great job opportunities going forward,” said Governor Crist.

Cutting state revenues can create those options. Between the corporate cut that could cost about $55 million and the addition of a sales tax holiday that could costs about 45 million, Floridians could put nearly $100 million back in their pockets.

“It’s less money that’s coming into the state treasury, it’s more money that’s coming into the Florida family and that’s really the emphasis of what we’re trying to do,” said Governor Crist.

On Friday, the Governor must roll out the budget recommendation to the state legislature.

The governor also stopped at Sallie Mae before he headed out of town. There, he highlighted his ideas about home loans and again promoted the hot topic of increasing jobs in the state.

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