Andrew Gillum Would Be a Disaster for Florida’s Economy. Florida Can’t Afford Andrew Gillum.
Thanks to the Tax Cuts and Jobs Act, Americans—and Floridians—have more job opportunities and more money in their wallets. The Act has led to a “remarkably positive” period of economic growth that has been described as “unprecedented in modern history.” Thanks to Republican support for conservative, free-market principles, employment is at record lows—particularly for Hispanics, African Americans and women. Ron DeSantis, while in Congress, was proud to support this bill, and as Governor, will work to ensure Florida continues to experience the benefits of this incredible economic boom.
Andrew Gillum, on the other hand, would be disastrous for Florida’s booming economy. He is proposing one of the largest tax increases in Florida’s history—$1 billion annually—which would incentivize companies to institute hiring and pay-raise freezes, or even encourage them to relocate to other states. He proposes a government-mandated $15 minimum wage that would destroy thousands of jobs and decimate small businesses.
Florida cannot afford Andrew Gillum—his policies and spending programs would hinder economic growth and lead to lower wages and fewer job opportunities.
Florida needs a leader like Ron DeSantis, who will build off of the success of the current economic boom and continue to foster an environment where Florida businesses and families can flourish for generations to come.
Black and Hispanic Unemployment at Record Lows. “Black unemployment fell to 6.6 percent in April, the lowest in data dating back to 1972, while the jobless rate among Hispanics dipped to 4.8 percent, matching the lowest on record, Labor Department figures showed Friday. Black and Hispanic jobless rates are generally more volatile than the overall unemployment figure, which fell below 4 percent last month for the first time since 2000.” (Randy Woods, “Black and Hispanic Unemployment in America Reach Record Lows,” Bloomberg, 5/4/2018)
Female Unemployment at Lowest Point in Decades. “Female unemployment inched down to 3.6 percent, the lowest since 1953.” (Petr Svab, “Black Unemployment Plummets to New Record, Lowest for Women Since 1953,” The Epoch Times, 6/1/2018 updated 6/2/2018)
Tax Cuts and Jobs Act has Contributed to Period of Economic Growth Unprecedented in Modern History. “Federal Reserve Chair Jerome H. Powell said Tuesday that the U.S. economy appears to be in the midst of a ‘remarkably positive’ period that is unprecedented in modern history… Powell has been careful not to wade into discussions of who deserves credit for the economy since the Fed is an independent body, but he said last week that the tax cuts have played a role in boosting growth.” (Heather Long, “This is almost the ‘too good to be true’ economy, Fed chair says,” Washington Post, 10/2/2018)
Andrew Gillum Calls to Increase Florida’s Corporate Tax Rate. “In a move setting him apart from usually tax-averse Florida candidates, Democrat Andrew Gillum has called for a stunning 40 percent increase in Florida’s corporate income tax — which he wants to use to raise $1 billion more for education, including $50,000 minimum starting salaries for teachers.” “‘Punishing corporations by taking money out of the pockets of job-creators is going to have a chilling effect on this state’s economy,’ Feeney added.”(John Kennedy, “Gillum corporate tax hike emerges as big dollar divide with DeSantis,” GateHouse Capital Bureau via Daytona Beach News-Journal, 9/16/2018)
Andrew Gillum’s Corporate Tax Increase Would Hurt Floridians. “Put simply, Gillum’s plan is to have Florida’s biggest corporations pay $1 billion more a year in taxes. That could affect average Floridians, experts told us. But it is difficult to put a dollar figure on it. Kurt Wenner, vice president of research at Florida TaxWatch, said that if a business is forced to pay more in taxes, it can raise prices, reduce employment, reduce costs or investment, or reduce profits. ‘Those outcomes would all potentially have negative impacts on residents,’ Wenner said. ‘The magnitude of those impacts would be hard to quantify, especially factoring in any economic increase from increase government spending.'”(Amy Sherman, “PolitiFact Florida: $1 billion Florida tax hike? Andrew Gillum proposes increasing state corporate tax,” PolitiFact Florida via Tampa Bay Times, 9/24/2018)
Gillum’s Proposed Minimum Wage Increase Would Significantly Impact Florida Businesses. “A conservative estimate shows that with an abrupt increase to $15 per hour Florida businesses could expect to see a nearly $2 billion ($1,834,618,188) increase in the cost of minimum wage labor. This estimate only accounts for an increase in the cost of those workers that are currently making minimum wage ($8.05 per hour); however, an increase in the minimum wage to $15 per hour would raise the cost of labor of all those employees making less than $15 per hour. Because the median wage in Florida is $15.29 per hour, the proposed increase would raise the cost of nearly half of Florida’s workforce, significantly impacting how businesses in Florida operate.” (“The Impact of a $15/hour Minimum Wage in Florida,” Florida Trend, 6/28/2016)