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Article: As Estate Tax Bites the Dust, Florida Bites Nails over Federal Tax Cuts.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 7, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Jun. 7--TALLAHASSEE, Fla.--When President Bush today signs into law $1.35 trillion in tax cuts, the move will force collective belt-tightening through the 50 states. Few will be hit harder than Florida, where brother Jeb Bush is governor.
With Florida already facing its tightest budget year in nearly a decade, the tax breaks approved last month by Congress include a 10-year phase-out of the federal estate tax -- slicing at least $174. million from state coffers next year.
"Like so much else in this tax bill, the decision to rob the states of their share of the estate tax was ...