Andrew Gillum on Corporations
Raise corporate taxes from 5.5% to 7.75%
Gillum said on CNN's "State of the Union" that "only 3% of companies in the state of Florida pay the corporate tax rate. And that 3% under the Donald Trump tax scam got a windfall of $6.3 billion overnight."
A spokesman said the mayor was citing an analysis by the left-leaning Florida Center for Fiscal and Economic Policy in 2015 that said only about 53,000 corporations in Florida, or about 3% of the total, paid any state corporate income tax.
Gillum, currently the mayor of Tallahassee, has said he is in favor of raising Florida's corporate tax rate from 5.5% to 7.75%, according to the Tampa Bay Times.
He has said those funds would go toward education.
[This week, Gillum also] acknowledged that his "Medicare for all" plan would require increasing taxes on corporations.
Source: CNN on 2018 Florida gubernatorial race
, Sep 2, 2018
90% of businesses pay no corporate income tax, & too little
Question: How would you reform the state's tax system?
GILLUM: Florida's tax structure has meant that while working families pay their fair share, the richest corporations pay little or nothing towards our state's prosperity. Ninety percent of Florida
businesses pay no corporate income tax, and those that do pay too little.
Our corporate tax rate is lower than bordering states like Georgia and Alabama. My "Fair Share for Florida's Future" plan will adjust the state's corporate tax rate from
5.5 percent to 7.75 percent, a rate competitive with neighboring states. This will generate at least $1 billion for investment into our state's most worthy priorities--because I don't believe we become a great place to
do business by being the cheapest date.
We'll attract more top-tier companies by investing in our workforce and a strong quality of life for their employees like better schools and highways.
Source: Miami Herald on 2018 Florida Gubernatorial race
, Aug 12, 2018
Corporate tax cuts can create jobs, support training
Gillum sides with Gov. Rick Scott (R) in his fight over taxpayer-funded economic incentives. Scott supports them as a job-creating tool, while House Speaker Richard Corcoran (R) blocked the funding as "corporate welfare." As mayor, Gillum has used
incentives, but thinks the state's economic development regime lacks a training aspect, such as apprentice programs. He said the state should consider boosting funding for all types of programs, with those tied to labor unions needing to be strengthened.
Source: Politico.com on 2018 Florida gubernatorial race
, May 31, 2017
Page last updated: Oct 10, 2018