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7 Steps.

700,000 Jobs.
7 Years.
We cannot blame Washington, D.C. for all of our economic
problems – Tallahassee is part of the problem.

i Florida has lost a larger percentage of our jobs than the rest of the country since the 2007 peak
-10.5% FL v. -5.3% U.S.
i Florida’s unemployment rate went from below the national average to the 5th worst rate in the country
11.7% FL v. 9.5% U.S.
i Florida’s economic decline is larger than the national average
Total Personal Income in Florida is still down 3.1% from the level reached prior
to the recession; for the nation, Total Personal Income is down 1.4%
i Floridians earn less than people in other states
3.5% lower per capita personal income FL v. U.S.
i More people are now leaving Florida than are moving here from other states
People vote with their feet, and they are voting against Florida
i Job growth in Florida is stronger when Florida’s state government costs less
Job Growth in Florida depends on making government affordable again

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Bureau of Labor Statistics, www.bls.gov
2000 – 2010
Florida Jobs

6.8 Millions
7.0
7.2
7.4
7.6
7.8
8.2
8.4
8.6
8.8
9.0

Jan-00
Jun-00
Nov-00
Apr-01
Sep-01
Feb-02
Jul-02
Dec-02
May-03
Oct-03
Mar-04
Aug-04
Jan-05
Jun-05
Nov-05
Apr-06
Sep-06
Feb-07
Jul-07
Dec-07
May-08
Oct-08
Mar-09
Aug-09
Jan-10
now Florida is falling behind.
Once a leader in job creation,
The career politicians in Tallahassee
are spending our state into bankruptcy.

i Spent stimulus dollars from Washington, D.C. and drained $8 billion in rainy day and tobacco
fund reserves instead of fixing their budget problem

i Used gimmicks to comply with requirements that ongoing spending be funded with recurring
revenue sources.

i Pushed off tough budget decisions that will force a large tax on jobs in the future if not
addressed

i Blew through the legally imposed debt ceiling like Washington D.C. does on a regular basis

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State “Rainy Day Fund” Change in Debt Service as a Percentage
Fiscal Years 1999 through 2009 of Revenue 1999-2009
(In Millions of Dollars)
$7,000 8.5 %

8.0 %
$6,000
7.5 %
$5,000
7.0 %

$4,000 6.5 %

6.0 %
$3,000
5.5 %
$2,000
5.0 %

$1,000 4.5 %

4.0 %
0$

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
General Fund Reserves $1,694.3 $2,155.9 $1,382.7 $1,925.1 $1,641.3 $ 3,423.6 $4,569.8 $6,081.2 $4,682.1 $1,674.6 $912.7
Reserves as % of Revenues 9.5% 11.5% 7.2% 10.0% 8.2% 15.7% 18.3% 22.5% 17.7% 6.9% 4.3% 6% Target 7% Cap Historical Ratio

State of Florida 2009 Debt Affordability Report, prepared by Division of Bond Finance, December 2009

The result is a $6 billion budget deficit and a negative outlook on Florida’s debt.
Florida is now going down the path of California and Greece.
Florida burdens job creation with one of the worst
regulatory frameworks in the nation.

i In surveys that rank state regulatory framework (as separate from overall business climate where
Florida’s low tax burden increases our state’s competitiveness) Florida does not score well

i Pacific Research Institute ranks Florida’s regulatory framework as 45th worst

i US Chamber of Commerce State liability system survey ranks Florida 42nd worst

i Small Business Survival Committee ranks Florida the 38th highest with respect to health
insurance mandates and 37th highest with respect to electric utility costs

i Government run wind insurance has driven private insurers out of the market and will result in an
enormous tax increase or auto insurance rate increases if we get hit with a major hurricane or a
number of costly hurricanes

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Florida’s economy should be the envy of the nation …that requires sending a
conservative outsider who has actually created jobs to change the way business is done.
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“Make Florida the job creation model for the nation.”
“The career politicians in Tallahassee have done I am the only candidate in this race with a
little to jumpstart our economy. But then again, comprehensive plan that will get our fiscal house
how can you get our economic wheels in motion in order, balance the budget, and create long-
when you’ve never balanced a budget, been term, good-paying jobs.
forced to meet payroll, or created a job?”
My 7-point plan isn’t complex. In fact, it’s very
Let’s face it, if the career politicians knew how to simple. And it’s common sense.
get us out of this recession, they would have done
it already. I’ve created jobs in the private sector. As governor,
my 7 step plan will create 700,000 in 7 years.”
That’s why it’s time for a conservative outsider
with real-world business experience to take charge
of Florida’s economy.

“Let’s get to work.”
1
Accountability Budgeting
“As governor, I’ll require accountability
i  transparent, outcome-based budgets
Use budgeting to force the bureaucrats in
Tallahassee to justify every tax dollar
i 
Propose biennial budgets in order to adequately review
budget goals and give the public time to participate in
they spend.”
the budget process

i 
Impose spending limits to ensure government expenditures
are at an affordable level

i 
Unlike other spending limits, my plan changes the focus
from how much government can spend to how much the
economy can grow

i 
Return Florida’s state and local government expenditure
burden to at least the 2004 level before spending ballooned
out of control

i 
Refuse temporary funding from the federal government that
creates permanent spending in Florida

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“I will use my line item veto or veto entire budgets
that spend more than taxpayers can afford.”
2
Reduce Government Spending “I will make the hard budget choices to
Balance the budget – without gimmicks, one-time revenues, bring spending in line with revenues.”
borrowed funds, temporary funds, or tax increases.

Implement outcome-based budgeting that will create budgeting
efficiency throughout government, including:

Pension Reform.
Aligning state employee pension contributions with other states‘
could save almost $1.4 billion.

Per Prisoner Savings.
Paying competitive market-based salaries for corrections’ staff,
utilizing inmate labor to grow prison food, and competitively
bidding health care contracts resulting in public prison costs that
are as low as private prisons, prisoner costs would be reduced by
$1 billion.

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Welfare Benefits.
Imposing more stringent standards on non-compliance with work
requirements and require drug screening for recipients, Florida could
save $77 million.
Florida Prospers When Government Spending Is Low Operational Efficiencies.
Florida’s economic growth is higher when Using common sense business solutions can reduce the cost of government
our government spending is lower. through operational efficiency saving upwards of $500 million1. A 5%
6.0 % reduction in the state workforce will save almost $300 million.
59.0 %
4.0 %
Reforming Medicaid.
2.0 %
29.0 %
Reforming health care for Medicaid recipients (through a waiver), and state
0.0 %
employees to consumer directed care will lower the cost of health care,
-1.0 %
increase choice of health plans, and save taxpayers’ $1.8 billion.
-2.0 %
-31.0 %
-4.0 %
Veto Pork Barrel Spending.
-61.0 % Veto what the legislators call “turkeys”- costly and unnecessary pork
-6.0 %
The size of Florida’s government burden relative to U.S. average (LHS) barrel projects.
Florida’s private GDP growth relative to U.S. average (RHS)
-8.0 % -91.0 %
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008

U.S. Bureau of Economic Analysis and U.S. Census
A 5% reduction in the state workforce will save
almost $300 million.
1. Florida Tax Watch
3
“Reducing unnecessary costs that

Regulatory Reform Tallahassee places on Florida
businseses will result in creating
i 
Make unemployment benefits more affordable 240,000 jobs.”
i 
Limit frivolous lawsuits by implementing tort reform
i 
Impose a regulatory freeze and implement a
comprehensive review of existing and
proposed regulations
i 
Review state development regulations and expedite
permits for job-creating businesses, such as Enterprise
Florida targeted industries
i 
Reform PSC processes to allow reasonable energy
production and expansion
i 
Lower workers’ compensation costs; a 35% reduction
in workers’ compensation costs would save businesses
approximately $2.46 billion
i 
Bring our health insurance costs and mandates in line
with the U.S. average
i 
Address Florida’s relatively expensive electricity costs so
businesses could save approximately $3.25 billion

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4
“In order to open Florida
for business, we must first
ensure that incentives
Focus on Job Growth and Retention
and policies are in i Local economic development offices are central to job creation and
place to reward success retention in our state. I will ensure these offices have the right resources
and trained specialists so they can assist their local businesses obtain state
– rather than punishing
and federal grants, and to comply with state and local regulatory processes
it. As governor, I will be in the least costly manner
Florida’s chief economic i In Tallahassee, we will eliminate overlapping economic development
development officer. We agencies and have one group that will assist local economic development
agencies and serve as our statewide recruitment agency. As governor, I will
won’t miss any opportunity be the state’s chief economic development officer, working with existing as
to keep or add jobs.” well as potential businesses every day to create jobs
i  ake economic development programs more flexible to allow our existing
M
businesses to expand here in their own unique ways. I will invest in the
state Innovation Fund that brought Scripps and Burnham research labs to
Florida, developing high tech clusters with high-paying jobs
i Partner with universities. Florida has many unique clusters revolving around
university specific research, such as the biotechnology cluster associated
with the University of Florida. State economic development grants will
always include partnerships with universities to develop research strengths
into unique clusters
5 World Class Universities
i

i

i
Invest in university research, laboratories, business
incubators, and technology transfer
Maximize the impact from university research on the
economy by ensuring that each Florida university –
and the research conducted by our universities – are
connected to the state’s economic development process
Leverage the research strengths of our state’s
“A world class
university system
will provide our state
the highly educated
workforce necessary
to enhance the
state’s vibrant
technology sectors.”
universities – such as recent investments made in
medical colleges – to invest in new and emerging
technologies that positively impact our economy

i Nurture new cutting-edge technology clusters – such
as the biotechnology cluster in Orlando that, by
conservative figures, creates over $7 in economic returns
from every $1 invested – a 7:1 ROI

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6
“The property tax burden is
Reduce Property Taxes
Florida’s #1 tax problem. Reduce the statewide property tax (RLE) by $1.4 billion (from
As governor, I will tackle 5.29 mills to 4.29 mills, a 19% reduction in RLE). Savings
from other key components of my 7 step plan will be used to
this problem head on – not impose replace those funds so not $1 is shifted away from our schools.
“band-aid” solutions i A 1 mill reduction results in approximately a
that provides temporary relief $142 savings for the average homeowner
Phase in another 1 mill reduction over the
to one group of people.” i
next 7 years

Growth in Property Tax
1.40

Revenues versus Growth 1.20

in Personal Income 1.00

1993-94 through 2008-09 0.80

0.60

0.40
U.S. Bureau of Economic Analysis and
Florida Department of Revenue 0.20

0.00

1993-94

1994-95

1995-96

1996-97

1997-98

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08

2008-09
Personal Income Total Property Tax Revenues
7
Eliminate Florida’s Corporate “Eliminating the
corporate income
Income Tax Over Seven Years tax will have a
minimal effect
i Fully phasing out the corporate income tax over time will have on state revenue
a large positive benefit for Florida’s economy while having a while making
minimal impact on state revenues
Florida globally
i Total state tax revenues will benefit from the dynamic economic competitive.”
growth created from the corporate income tax phase-out
i In total, my tax and budget reforms should create an
additional 365,000 jobs.

45.0 %
Corporate Income
40.0 % 39.2%
Tax Rates in the U.S. 35.0 %
38.6%
35.0%

and Other Higher 30.0 %
Taxed Countries 25.0 %

(State and Federal Combined) 20.0 %

The Tax Foundation 10.0 %

5.0 %

0.0 %
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“When fully implemented, my The Economic Impacts
plan will save Florida taxpayers
$7 billion a year.” Of The Rick Scott Plan
Through this 7-Step Economic Program, total job growth in Florida will
accelerate, the number of new business start-ups will increase, wages and
salaries will grow, and the productivity and vitality of Florida’s economy will soar.

The 7-step economic program - over a 7 year period - will have a positive
economic impact and create 700,000 jobs for the State of Florida.

In total, Florida’s economy will gain an additional:

i 700,000 jobs

i $74 billion in state GDP

i $41 billion in higher personal incomes

i $1 billion in total state tax revenues as a direct result
of the increased economic growth
“Let’s get to work.”
w w w. R i c k S c o t t F o r F l o r i d a . c o m

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300 S.E. 2nd Street Zip Code: 32256
Ft. Lauderdale, FL 33301