Issues

Florida Dem Gubernatorial Candidate Wants to Increase Corporate Tax Rate to Highest in Region

Andrew Gillum / Getty

Andrew Gillum, who secured Florida's Democratic nomination in the governor's race Tuesday night, said if elected he would increase the corporate tax rate hike by over 40 percent its current value.

Gillum, the mayor of Tallahassee, said in January he would increase Florida's corporate tax rate from 5.5 percent to 7.75 percent, an increase of 40.9 percent the current rate. He said the increase would help generate $1 billion in increased annual revenue and that he would use this revenue to help boost education funding, according to the Tampa Bay Times.

"Miami was shortlisted as we're competing in this contest (for Amazon's new headquarters)," Gillum said. "What is Amazon looking for? … Not only do we want a friendly environment for businesses to call home, but we also want to have an environment where they're guaranteed a workforce that is prepared."

Now that Gillum is the Democratic nominee in the governor's race, there is a stark contrast between him and his Republican opponent Rep. Ron DeSantis (R., Fla.). DeSantis signed the Americans for Tax Reform's Taxpayer Protection Pledge, which states he will not raises taxes on Floridians if he wins the gubernatorial election.

Grover Norquist, the president of American's for Tax Reform, praised DeSantis and his Republican opponent at the time they signed the pledge.

"I applaud Ron DeSantis and Adam Putnam for making this important commitment to Florida taxpayers," Norquist said. "Florida Republican primary voters can go to the polls confident that the winner of the Republican primary will be a candidate who has committed to protecting taxpayers"

Florida would have the highest corporate tax rate in the Southeast region should Gillum be elected and follow through on his proposal.

Gillum, who was endorsed by Sen. Bernie Sanders (I., Vt.) and has received hundreds of thousands of dollars from liberal billionaire George Soros, said earlier this month at a candidates forum that "the richest corporations in Florida aren't paying their fair share."

"The richest corporations in Florida aren't paying their fair share — when I'm Governor, they will — so we can pay teachers what they are worth, invest in our schools, and lead the nation in the measures that matter," Gillum tweeted.