MAITLAND, Fla. – Today, Senator Rick Scott was joined by business and community leaders in Maitland for a roundtable on Protecting the American Dream and ensuring every family has the opportunity to get a great job, put a roof over their heads, and live their American dream. Senator Scott was proud to support making the Trump Tax Cuts permanent and establish several new tax cuts to help Florida families keep more of their hard-earned money, including No Tax on Tips and No Tax on Overtime, and is leading several bills to cut taxes and make homeownership more affordable.

Senator Rick Scott said, “I am grateful to have lived the American Dream; growing up, my family didn’t have much and lived in public housing. As Governor and Senator, my goal has been to keep the American Dream alive so every family can have the same opportunities I did. But after four years of Democrats’ tax-and-spend policies in Washington, that American Dream was pushed further from reach as inflation and interest payments soared, making homeownership and basics like groceries harder to afford. Home ownership is a part of the American Dream and a sign of stability for many families, and I have heard from too many Floridians who want to live that dream that the cost of owning a home is taking a toll on their budgets. I have been working closely with President Trump to secure massive tax cuts that help families succeed and keep more of their hard-earned dollars, including No Tax on Tips, No Tax on Overtime and continuing the Trump Tax Cuts, while growing the economy and driving down inflation. We can build on these efforts by passing my bills to cut their tax burden for homeowners’ insurance and flood insurance, and a tax break for storm readiness so hardworking families can live their dreams in our state without breaking the bank.”

Senator Scott’s legislation to cut taxes and lower prices for homeowners includes:

• The Flood Insurance Relief Act to provide tax relief for Americans with a non-refundable tax deduction on flood insurance premiums paid through the National Flood Insurance Program or through private insurers.
• The Homeowners Premium Tax Reduction Act to provide American homeowners an above-the-line tax deduction of up to $10,000 of premiums paid for homeowners’ insurance annually at their primary residence.
• The Removing Barriers to Private Flood Insurance Act, the Flood Insurance Consumer Choice Act, and the Flood Insurance Transparency Act to reform the NFIP, which would help lower the cost of flood insurance, build a more robust private market, and ensure the property insurance market better serves Florida families; and
• The Residential Emergency Asset Accumulation Deferred Taxation Yield (READY) Accounts Act to create a tax-free savings vehicle for home mitigation and disaster response costs. 

###