House Speaker Marco Rubio: “These severe economic pressures have a negative impact on real estate-related revenues and also discourage consumer spending. We exercised budget discipline in the recent legislative sessions this year. We are prepared again to take whatever steps are necessary to keep the state budget balanced while providing essential services to the citizens. When Florida citizens are spending less, state government must spend less, as well. We are going to continue work towards solutions for the economic pressures that are squeezing Floridians’ wallets. We are committed to working to make Florida affordable again."
Econ 101. When the economy is stalling, you increase government spending and cut taxes on the lower class and the economy gets moving again. Government spending gets the economy going more because more money flows into the economy, which generates more profits, more taxable income and more revenue. Poor people, when they have extra money, put 100% of it back into the economy and tax cuts for poor people are much cheaper than tax cuts on the wealthy. Cutting one source of government revenue without replacing it somewhere else doesn't help the economy, it hurts it.
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