Florida’s Chief Financial Officer Jimmy Patronis is firing back at New York Governor Andrew Cuomo after the Governor blamed President Trump’s tax cuts for the Empire State losing revenue, which caused people to move to states like Florida.
What the Governor explained is that “there is no doubt that the budget we put forward is not supported by the revenues.” He then went on to call the President’s tax cuts “an economic civil war” that “literally restructured the economy to help red states at the cost of blue states.” Cuomo further added that “a taxpayer in Florida would see no increase, probably would see a decrease, and Florida also has the advantage of no estate tax.”
In response to the Governor’s words, Patronis thanked Governor Cuomo “for admitting to the world what we already know to be true: people spend their money better than government does.”
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Patronis further explained that “early data show that there has been a surge in home purchases in our state by residents from high-tax states like New York. As a result, Florida had more people moving here in just one year than any other state. We couldn’t be happier to welcome new families to Florida.”
Once again, Patronis thanked the Governor.
Speaking on the President’s tax cuts, Patronis detailed that “the Trump Tax Cuts and Jobs Act has proven to be a success across the board and has made our state attractive to those looking to leave states that impose income taxes. States like New York and Illinois should look at better ways to increase revenue like cutting spending, instead of placing the burden on already over-taxed constituents.”
He then extended an invitation to Governor Cuomo, asking the Governor “to come visit us here in the sunshine state to understand why so many New Yorks see Florida as a haven for free enterprise.”