Frank Russo Proposes 9.9% Millionaire Tax to Invest in Florida's Future
Source: PRNewswire· August 20, 2026
SynaBot summary
Florida gubernatorial candidate Frank Russo is proposing a 9.9% tax on income exceeding $1 million. He calls this a 'Caring Capitalism' plan, with revenue earmarked for state investments. The proposal targets high earners to fund future state initiatives.
Key takeaways
- New tax targets income over $1 million.
- Revenue aims to fund Florida's future.
- Proposal dubbed 'Caring Capitalism'.
Why it matters
This proposal could influence how AI tools are funded and deployed in Florida. Increased state investment in technology or education, driven by such taxes, might lead to new AI resources or training programs for businesses and individuals.
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