Political Revenge? GOP donors reap the benefits from the biggest tax breaks.
The largest tax break introduced by Gov. Rick Scott and the Republican-controlled legislature will allow many homeowners in Palm Beach County to save money by cutting $28 from property taxes 2010 owed in the coming year.
For many of the biggest companies in the state to include those who were big contributors to GOP election campaigns last year, the tax reduction will save these companies a lot of money. Most are expected to save well into the hundreds of thousands in terms of dollars and some may even save over $1 million.
Leading Republicans say the tax cut is part of an on-going effort to boost Florida’s weak economy, but some environmentalists agree that the decrease in government tax income will wreak havoc on protection programs for water, land, and floods.
In agreement with many Democrats, conservationists view this tax cut mostly from a political point of view, interpreting it as a show of gratitude from Republicans to many of their big campaign contributors.
For most homeowners, this tax cut is a small savings. The average homeowner in Palm Beach County will only save roughly $28. For big corporate giants like Walt Disney, Florida Power & Light, BellSouth, and Universal, these companies will save well into the millions of dollars.