Florida TaxWatch Study Finds Severe Risks to Access to Insurance and Reinsurance in House GOP Tax Plan
The study, Analysis of a Border-Adjusted Tax on
"This study's findings are clear. A border-adjusted tax on insurance and reinsurance would be awful for Floridians, decreasing economic activity, employment and earnings," said
The analysis found that the border-adjusted tax on insurance and reinsurance would indeed have direct and drastic effects on
- Cut approximately 42,800 – 77,400 jobs;
- Slash worker earnings by
$1.4 billion -$2.6 billion ; - Reduce economic activity in
Florida by$2.8 billion -$5.0 billion ; and - Inflict long-term damage on
Florida's economy by increasing the cost of living and doing business, resulting in a loss of competitiveness.
"It's important for
The Florida TaxWatch analysis comes on the heels of a report released by
"Floridians should be wary of any attempt to constrict the supply of insurance and reinsurance," said Feeney. "Doing so will increase costs for consumers, homeowners and businesses across the board, and that will lead to an inefficient marketplace. It's crucial that insurance is affordable for
As an independent, nonpartisan, nonprofit taxpayer research institute, Florida TaxWatch serves as a government watchdog to improve the productivity and accountability of
Media Contact:
Emily Flynn Pappas
Podesta Group
202-448-5208
[email protected]
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/florida-taxwatch-study-finds-severe-risks-to-access-to-insurance-and-reinsurance-in-house-gop-tax-plan-300426228.html
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