Gov. Rick Scott signed Florida’s newest tax-cut package into law Wednesday. Scott has said the package adds up to $1 billion in tax cuts over the next two years.

Scott ceremonially signed the recently passed legislation, HB 7099, at a jobs announcement in Jacksonville Wednesday. Scott was in Jacksonville to announce jobs at Novolex, a company which manufactures plastic bags for grocery stores in Florida.

Scott’s original tax cut proposal to the Florida Legislature was for $1 billion, but state lawmakers downsized the governor’s plan considerably. The House ultimately offered to pass a smaller tax cut package of $991 million in cuts over the next two years, not over one year, while the Senate went even smaller, proposing $250 million and later proposing $400 million when a property tax cut was included.

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