Senate Democratic Leader Nan Rich and other Democrats in the House and Senate spoke in Tallahassee on Wednesday in support of the Fair Economy Act, legislation that supporters say will save hundreds of millions of dollars and end a tax structure that protects special interests and rewards the rich.
The Democrats introduced three separate bills, but said the Fair Economy Act would stop multinational corporations from wiring money back and forth to other states to avoid paying the same taxes that Florida small businesses pay, ensure that any taxpayer money secured by companies promising jobs actually goes toward creating jobs and not to those companies bottom lines, and would end corporate tax loopholes that the sponsors say benefit only "rich corporations" while hurting middle class families.
In a news conference introducing the bill, Rich said "This is the second year I have offered the Republicans a chance to do the right thing, the fair thing, by closing a tax loophole that puts every small business in Florida at a major disadvantage. Large corporations should shoulder the same financial responsibilities as the Floridians who helped drive their success. Their tax loopholes shouldn’t come at the expense of educating our children, caring for our elders, or protecting our communities. If a corporation is going to use our roads, or expect police and fire protection when they dial 911, they should have to pay for them, just as our small business owners do.”
This article appears in Jan 19-25, 2012.