Historic Tax Cut Bill Passes Senate, Set to Impact Floridians
The U.S. Senate has passed the “One Big Beautiful Bill Act,” legislation that its proponents state represents the largest tax cut for the working and middle class in history. The bill is expected to have a significant impact on Florida families through various provisions, according to the office of Florida Sen. Ashley Moody.
Moody issued a statement supporting the legislation, highlighting its potential to return “thousands of their hard-earned money back in their pockets” for Florida families.
READ: Wild Justice: Trump, DeSantis Unleash Florida National Guard As Judges At “Alligator Alcatraz”
Tax Relief: The bill includes provisions for exempting most tips and overtime from tax, as well as Social Security benefits from taxation.
Extension of Tax Cuts and Jobs Act (2017): By extending the 2017 Tax Cuts and Jobs Act, the bill aims to prevent potential financial impacts for Floridians, including:
- An estimated $3,650 tax increase for the average Florida family.
- Approximately 399,000 potential job losses in Florida.
- A halving of child tax credits for around 2,441,080 Florida households.
- Substantial tax increases for an estimated 1,908,210 Florida small business owners.
- A reduction by half of the standard deduction for approximately 10,001,420 Florida families.
Border Security: A provision designed to expand the ability of state and local law enforcement to enforce immigration laws. This includes expanding eligible reimbursable expenses for agencies participating in the 287(g) program, intended to allow non-federal law enforcement to assist in immigration enforcement.
READ: NYC Socialist Dream Meets Spreadsheet Reality: Mirage Math Behind Mamdani’s Grocery Stores
Florida’s Space Coast Support: A provision aimed at bolstering Florida’s public-private aerospace partnerships and strengthening spaceports. This measure, part of Senator Moody’s “Secure U.S. Leadership in Space Act,” seeks to make spaceport facility bonds tax-exempt, aligning their tax status with that of airports and seaports.
School Choice Initiatives: The bill includes a federal tax credit scholarship provision intended to provide additional scholarship funds for K-12 education options. These scholarships, funded by private donations, could assist students with tuition, tutoring, special needs services, or education technology.
Preventing Human Trafficking of Minors: A vital provision requiring the Office of Refugee Resettlement to collaborate with states to find homes and appropriate placements for unaccompanied minors. It also mandates tracking these children during their stay in the U.S. while immigration proceedings are ongoing.
Senator Moody stated that this legislation marks “just the beginning” of efforts to restore “financial freedom” and implement policies to strengthen the state and country.
Please make a small donation to the Tampa Free Press to help sustain independent journalism. Your contribution enables us to continue delivering high-quality, local, and national news coverage.
Connect with us: Follow the Tampa Free Press on Facebook and Twitter for breaking news and updates.
Sign up: Subscribe to our free newsletter for a curated selection of top stories delivered straight to your inbox.
