THE EFFECTS OF THE OBAMA TAX PLAN

Florida
President Obama’s tax plan would allow portions TOTAL EMPLOYMENT
of the 2001 and 2003 tax cuts to expire, resulting in Annual Change in Jobs
steep tax hikes beginning in January 2011 for small
2011 2015 2020
businesses and those earning $250,000 or more. 0
The tax hikes would significantly affect the economy
in Florida, most notably in the number of jobs and –10,000
change in personal income.

Among the results, from 2011 to 2020, the state –20,000

of Florida would:
• Lose, on average, 40,418 jobs annually. –30,000
• Lose, per household, $17,696 in total
disposable personal income.
–40,000
• See total individual income taxes increase by
$33,254 million.
–50,000

Source: Heritage Foundation calculations based on the IHS Global

Insight U.S. macroeconomic model, and data from the U.S. Census –60,000
Bureau and U.S. Department of Labor, Bureau of Labor Statistics.
–51,055

REAL DISPOSABLE INCOME TOTAL INDIVIDUAL INCOME TAXES

Annual Change per Household Annual Change in Millions of Dollars
$4,125.5
2011 2015 2020
$0 $4,500

–$250 $4,000

–$500 $3,500

–$750 $3,000

–$1,000 $2,500

–$1,250 $2,000

–$1,500 $1,500

–$1,750 $1,000

–$2,000 $500

–$2,250 $0
2011 2015 2020
–$2,239.88

Chart FL • Obama Tax Plan by State heritage.org

THE EFFECTS OF THE OBAMA TAX PLAN

Change in Employment in Florida

1 4
2
6
7
3

Average Annual Change in Total 8 24

Employment, 2011 to 2020, by
Congressional District
5
Jobs Lost: 800–1,399
Jobs Lost: 1,400–1,599 15
Jobs Lost: 1,600–1,799 9
Jobs Lost: 1,800–2,320 12

State: 40,418 jobs lost annually on average

13
16

23
14

25

Source: Heritage Foundation calculations based on the IHS Global Insight U.S. macroeconomic model, and data from the U.S. Census Bureau and U.S.
Department of Labor, Bureau of Labor Statistics.

Map FL • Obama Tax Plan by State heritage.org