Florida Sen. Rick Scott accuses NY of trying to tax Sunshine State residents to 'backfill' budget

Not enough urgency for coronavirus reopenings from Cuomo, De Blasio: NYC councilman

Trump 2020 New York co-chairman and NYC Council Minority Whip Joe Borelli on a Staten Island tanning salon and other New York small businesses who want to reopen but can’t due to local government orders.

Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here.

Continue Reading Below

Florida Sen. Rick Scott is vowing to protect his state’s residents – including the “hundreds of thousands” of New Yorkers that have fled to the Sunshine State – from the reach of New York state taxes.

In a Twitter post on Thursday, Scott accused New York Gov. Andrew Cuomo of going after individuals who left New York’s high-tax environment in favor of the low taxes in Florida in order to “backfill his poorly-managed budget.”

Scott was referring to Cuomo’s request for more federal relief money amid the ongoing coronavirus pandemic, which has severely impacted the state. The Florida Republican has suggested the aid request is a “bailout” that would be financed by taxpayers.

Cuomo has said New York needs about $61 billion or its faces 20 percent budget cuts as it loses out on billions of dollars in tax revenues.

Cuomo is also asking lawmakers to repeal the $10,000 cap on state and local tax deductions, which he said would be the “single best” action to help the state recover.

SALT CAP REPEAL THE 'SINGLE BEST' ACTION TO HELP NEW YORK, CUOMO SAYS

But Scott told Fox News in an interview that Cuomo, who is “tired of taxing his citizens,” wants to tax Floridians and New Yorkers who fled to Florida for his fiscal “excesses.”

“I’m not going to have it, it’s not going to happen, it’s wrong,” Scott said.

The Florida senator has said the government has already doled out $1 trillion in funding and loans to state and local governments.

CORONAVIRUS-STRICKEN NY’S TAX COLLECTIONS PLUNGE, ECONOMIC WRECKAGE RIVALS GREAT DEPRESSION

A spokesperson for Cuomo’s office did not immediately return FOX Business’ request for comment. However, in a press conference this week he called on lawmakers to “stop abusing” states like New York and New Jersey, dubbing Scott’s response “un-American.”

“Stop abusing the states who bore the brunt of the COVID virus through no fault of their own,” Cuomo said.

CLICK HERE TO READ MORE ON FOX BUSINESS

Scott has long been critical of New York’s tax policies, crediting high tax rates for driving up the population in his own state.

Florida has no statewide income tax or estate tax, which is a draw for many. The top income tax rate in New York is more than 8 percent.

“Cuomo’s also mad because all these businesses moved to Florida because they couldn’t afford to live there,” Scott told Fox News on Thursday. “And then the people moved here because they got sick and tired of his taxes, his regulation and his attitude.”

The Sunshine State drew in a net influx of about $17.7 billion in adjusted gross income from people who moved in, according to 2016 IRS data. On the flip side, New York lost the largest amount of adjusted gross income from migration, about $8.8 billion.

A report recently released by the New York state comptroller, Thomas DiNapoli, showed a 68.4 percent – or $7.9 billion – year-over-year decline in tax revenues in April. DiNapoli said the level of economic devastation has not been seen since the Great Depression.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Source: Read Full Article