Florida Democratic gubernatorial candidate David Jolly is floating a proposal to increase taxes on insurance companies and visitors to the Sunshine State as a solution to the state's affordability crisis. Jolly outlined his potential plan in an interview with NBC 6 South Florida Host Jackie Nespral.
"When it comes to insurance, one of the biggest drivers for housing costs, even for renters, as it gets passed through, or retirees in condos - we need a state catastrophic plan that removes hurricane coverage from the private market," Jolly said. "In many cases, that would cut property insurance by 50 to 60 percent."
"First, actually require insurance companies to keep their profits in the state. Part of the scandal right now is Republican leaders in Tallahassee allow insurance companies to ship their profits out of state and keep their losses here," Jolly continued. "If we required what's called combined reporting, we'd raise 3 billion dollars next year."
A former Republican-turned-Democrat, Jolly said that the state's affordability crisis is affecting all Floridians, regardless of social status or party affiliation. Jolly added looking into hotel taxes, bed taxes, and transaction taxes on real estate as ways to tackle the issue, arguing that it would lower Floridians' tax burden "dramatically."
He also argued for investing in public education, including a 30% pay raise for teachers. To pay for it, Jolly reaffirmed putting a tax on insurance companies, and potentially on tourism dollars from visitors to the state.
"Just another tax and spend liberal," Florida GOP Chairman Evan Power said in response.
As for the root of the problem, Jolly pointed the finger at Republicans in Tallahassee, who have largely been in control over the past 25 years. A Democrat has not been in office in Florida since early 1999, and the state has swung drastically to the right over the past few years under the leadership of Gov. Ron DeSantis.
"For 30 years we've had the same party in charge in Tallahassee, and they've given us this affordability crisis," Jolly said. "And if they were ready to fix it, they would have."
