Florida's Governor Announces Tax Plan

The governor announced in Tallahassee Tuesday afternoon he wants to reduce local school property taxes and give homeowners a one-time, $100 tax rebate.

Bush also supports sales tax holidays for hurricane supplies and back-to-school shopping.

Gov. Jeb Bush says, “It returns $930 million back to individual Floridians, it returns $590 million to businesses, and it creates $922 million of recurring tax relief. These recommendations, as I said, total $1.5 billion.”

The governor’s tax plan also calls for elimination of intangibles tax of stocks and bonds and the repeal of a tax on alcoholic beverages that are sold in bars and restaurants.