Florida House Committee Rejects Repeal of Insurance Jobs Tax Credit

Statement of Liz Reynolds
State Affairs Manager
National Association of Mutual Insurance Companies
Florida House Appropriations Committee Vote to
Reject Repeal of Insurance Jobs Tax Credit

“As Florida continues its struggle to recover from the Great Recession, members of the Florida House Appropriations Committee made the right decision to keep in place the jobs tax credit that helps the state’s insurance industry increase its employment.

“Our companies are already the most heavily taxed in Florida, and repealing this credit could have had a negative influence on an insurance company’s decision to either remain or locate in Florida. We know that one of our member companies decided to come to Florida, bringing employees with them and hiring people here, because of the tax credit.

“It’s entirely possible a repeal of the credit could make these kinds of decisions go the other way. Had the Appropriations Committee voted to go along with the Senate for a repeal of the jobs tax credit, Florida’s economy could have suffered with the loss of jobs, and Florida insurance consumers could have suffered as fewer companies doing business here would have meant fewer choices and higher prices for insurance.”

Lisa Floreancig
Public Affairs Director - State & Policy Affairs