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flag Florida lawmakers advance bill cutting sales tax to 5.25%, aiming to save Floridians over $5 billion yearly.

flag Florida lawmakers are considering a bill that would reduce the state's sales tax from 6% to 5.25%, potentially saving Floridians over $5 billion annually. flag The House Ways and Means Committee unanimously approved the proposal, which also lowers the tax rate on business rent, non-residential electricity, and new mobile homes. flag However, Governor Ron DeSantis prefers cutting property taxes instead. flag The state must adjust its budget to reflect any tax reductions, and the House and Senate must agree on a final budget by May.

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