Will lawmakers omit Gov. DeSantis’ insurance tax cut plan from tax package?
As insurance premiums have shot up in recent years, lawmakers have addressed it by limiting lawsuits and payouts for lawyers, a change they said would need time to settle in the market before homeowners saw relief in rates.
But Gov. Ron DeSantis had one plan in his budget recommendation that would immediately reduce rates, if only for a time: a one-year elimination of insurance premium taxes. It is projected to save homeowners $431 million.
However, when the House released its tax cut package (HB 7073) last week, the insurance tax cut wasn’t included. The size of the cut likely made it hard to include, since the overall bill reduces taxes by $728.1 million over two years.
But there are logis...
