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CFO Jimmy Patronis to President Trump on Medical Marijuana Banking

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With the U.S. Senate Judiciary Committee voting to advance William Barr’s nomination for U.S. Attorney General today, Florida Chief Financial Officer (CFO) Jimmy Patronis sent a letter to President Donald J. Trump on the urgent need for greater clarity regarding federal regulatory guidelines around the banking of state-authorized medical marijuana businesses. [Read more…] about CFO Jimmy Patronis to President Trump on Medical Marijuana Banking

CFO Patronis: President Trump and Governor DeSantis Stand with the Panhandle

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Chief Financial Officer (CFO) Jimmy Patronis joined Governor Ron DeSantis in Marianna today to announce that with President Donald J. Trump’s support, FEMA has increased the number of days that Category A and B funding can be reimbursed at 100 percent from five days to 45 days. [Read more…] about CFO Patronis: President Trump and Governor DeSantis Stand with the Panhandle

Gov. Scott: Federal Pre-Landfall Emergency Declaration Signed by the President

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Issues Updates on Hurricane Michael

Following Governor Rick Scott’s request, today President Donald Trump approved a pre-landfall emergency declaration. This declaration will provide important resources and assistance from the federal government, including personnel, equipment and supplies, as well as making available funding sources for emergency protective measures.  [Read more…] about Gov. Scott: Federal Pre-Landfall Emergency Declaration Signed by the President

Nelson asks Trump for emergency declaration ahead of storm

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U.S. Sens. Bill Nelson (D-Fla.) and Marco Rubio (R-Fla.) sent a letter today to President Trump in support of the state of Florida’s request for a pre-landfall emergency declaration ahead of Hurricane Michael. The president’s approval is necessary to ensure that federal resources are made available before and after the storm. [Read more…] about Nelson asks Trump for emergency declaration ahead of storm

Attorney General Bondi’s Statement on President Trump’s Visit to Florida

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Attorney General Pam Bondi later today will welcome President Donald J. Trump to Florida. This afternoon, Air Force One will land in Tampa where Attorney General Bondi will greet President Trump and welcome the President to her hometown: [Read more…] about Attorney General Bondi’s Statement on President Trump’s Visit to Florida

Breaking News From GOP Insider Brief

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President Donald Trump confirmed Tuesday that a top North Korean official is headed to New York for talks on an upcoming summit between Trump and North Korean leader Kim Jong Un, as diplomatic efforts also accelerated in Asia, The Associated Press reports. Trump said in a tweet that Kim Yong Chol — a former military intelligence chief and now a vice chairman of the North Korean ruling party’s central committee — was traveling to New York as part of ongoing meetings between the two countries to arrange the on-again, off-again summit on the future of North Korea’s nuclear weapons.

CFO Jimmy Patronis: President Trump’s Tax Cuts Make it Possible to Phase Out State Business Tax & Attract More Companies to Florida

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Florida Chief Financial Officer (CFO) Jimmy Patronis today released the following statement on his office’s continued analysis of President Trump’s tax cuts and how they will make it possible to phase out Florida’s corporate income tax because of expected increased revenue to the state through the Tax Cuts and Jobs Act of 2017.

CFO Jimmy Patronis said, “An analysis of President Trump’s tax cut shows that because of the way Florida’s tax code is written, businesses are expected to pay an estimated 13 percent more to the state in taxes over the next 10 years. Some of that increase is because the federal tax law got rid of corporate deductions and expanded the tax base while lowering the overall rate, which means Florida businesses will have higher ‘federal taxable income’ subject to state taxation. That 13 percent equates to an estimated $313 million increase in tax base for the state over 10 years, which paves the way for us to begin phasing out our business tax in Florida.

“One public study on the effects of the Trump tax cut shows that while Florida businesses would pay 13 percent more, our number one competitor for jobs – Texas – would have no similar increase in business taxes. This could put our state at a competitive disadvantage as we try to build off of Governor Scott’s success in making our state a top choice for businesses looking to relocate. We know many businesses are examining the tax climate in Florida and other states right now, as they plan to take advantage of President Trump’s new policy of a one-time tax assessment for companies who return off-shore revenue back to America.

“As businesses pay the state more in taxes, Florida is able to lower our tax rate accordingly. I have asked my staff to develop a plan that would strategically roll back our business tax over the next several years so it can eventually be eliminated, while finding a way to continue to support charter schools that are currently funded from corporate tax scholarships. We must work quickly to cut our business tax and make Florida the most competitive state in the nation for business growth and job creation.”

A copy of the study can be found here.