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Tampa Bay Times: Tuesday’s Letters: Businesses need relief

Monday, October 23, 2017

Tax reform

Businesses need relief

As Florida business owners, taxpayers and economic drivers, the Florida State Hispanic Chamber of Commerce’s network of 80,000 minority-owned businesses proudly supports federal tax reform.

Leaders in the White House and Congress are hard at work to provide much-needed economic relief to Florida families and business owners. I am thankful for our Florida congressional representatives’ steadfast dedication to this important policy, and it is encouraging to see our state leaders pushing for tax reform as well.

Together with the Republican Party of Florida, House Speaker Richard Corcoran recently hosted a roundtable in Tampa for business leaders to come together and discuss the new tax reform framework provided by the Trump administration. I hope other parts of the state follow suit and get involved, because tax reform will truly affect every single American.

The business community will certainly see new opportunities for job creation, expansion and investment under the proposal from President Donald Trump and Congress, but working families will benefit as well. By lowering rates, removing loopholes and simplifying the filing process, comprehensive tax reform is estimated to increase Florida’s median household income by $4,248. Additionally, the cost-efficiency of the new framework will contribute to 97,220 new jobs in Florida.

Times have changed in the past 30 years, which is the last time bold tax reform was enacted. Other countries have reformed their tax code to reflect modern society, and the United States is overdue to do the same. I encourage all Floridians to contact their elected officials and thank them for tackling tax reform this year. As for members of Congress, please continue your hard work and do not slow down until a bill is signed.

Julio Fuentes, Lake Worth


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