Russo Strengthens Tax Relief Plan After Listening to Floridians, Challenges Billionaires to Help Protect Homeowners

NEW SMYRNA BEACH, Fla., Sept. 10, 2026 /PRNewswire/ -- Florida gubernatorial candidate Frank Russo today strengthened his proposed tax plan after hearing directly from small business owners and residents, raising the taxable threshold so the proposal more clearly draws revenue from Florida's wealthiest businesses' investments in the state, while protecting working families and entrepreneurs.

Russo said the change reflects the approach he has promised to bring to Tallahassee: listen first, then lead.

"When people raise a legitimate concern, you listen to them and you fix it," Russo said. "A small business owner can have one exceptional year without suddenly becoming one of Florida's wealthiest people. That was never who this proposal was meant to target."

Under the updated proposal, the additional consumption tax would apply only to entities whose annual revenue is above $3 million, rather than the previously proposed $1 million threshold, with a 15 percent rate on spending above the increased level.

Russo said the purpose of the proposal remains the same: provide meaningful relief to Floridians who are increasingly struggling with property taxes, homeowners insurance and the rising cost of remaining in their communities.

"Florida should be a place where a teacher, firefighter, police officer, retiree or small business owner can afford to stay in the home and community they worked hard to build," Russo said. "People should not be taxed and insured out of their own homes just because of their economic situation, while those at the very top benefit from the free market of this state and bear no burden for it."

Revenue generated under Russo's proposal would be directed into a constitutionally protected public trust dedicated to supporting Florida communities and easing pressure on homeowners and essential local services.

Russo also tied the proposal to the debate surrounding Amendment 3, saying Florida must ensure that expanded property-tax relief does not come at the expense of police, firefighters or other critical community services.

"Property-tax relief should actually provide relief," Russo said. "It should not force communities to choose between helping homeowners and keeping firefighters, police officers and other essential services on the job. We can protect both."

Russo said the change announced today demonstrates the kind of government he wants to lead.

"Leadership is not about pretending you have every answer before you walk into the room," Russo said. "It is about listening to Floridians, recognizing when something can be better and having the courage to change it. That is how I intend to govern."

Russo said his broader goal is to bring Floridians together around affordability rather than dividing them by party, income or geography.

"This campaign is about making Florida work again for the people who live here," Russo said. "Republican, Democrat, independent — it does not matter. If you are worried about affording your home, your insurance, your groceries or your family's future, I am listening. We are Floridians first."

Additional details of Russo's updated tax and affordability proposal will be released at Russo2026.com.

About Frank J. Russo:

Frank J. Russo is a lifelong Floridian, entrepreneur, insurance executive, real estate developer,  and humanitarian with more than 40 years of business leadership, including over 30 years in the insurance industry. Based in New Smyrna Beach, Russo is running for Governor to restore  affordability, strengthen Florida's economy, and build a government focused on practical  solutions that put Floridians first. For more information, or to volunteer or donate, visit  Russo2026.com.

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SOURCE Frank J. Russo for Governor