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Florida Lawmakers Approve $900M Tax Cuts, Budget Deal

5/31/2025

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Summary

Story summary

After weeks of impasse, Florida lawmakers have finally struck a budget deal. This new plan promises a $900 million tax cut by scrapping the commercial lease tax, alongside $350 million in sales tax exemptions. Additionally, $750 million will be allocated to a rainy-day fund, with further negotiations set to begin Tuesday and a finalized budget anticipated by June 16.

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Story summary

After weeks of impasse, Florida lawmakers have finally struck a budget deal. This new plan promises a $900 million tax cut by scrapping the commercial lease tax, alongside $350 million in sales tax exemptions. Additionally, $750 million will be allocated to a rainy-day fund, with further negotiations set to begin Tuesday and a finalized budget anticipated by June 16.