Declaring that other Southeastern states "are eating our lunch," a leading industry group lauded Gov. Rick Scott's plan to phase out Florida's corporate income tax.

One of the chief items on Gov. Rick Scott’s economic agenda is the elimination of the corporate income tax -- and it looks like he will be getting help from a key committee in the Florida House.

Florida’s budget shortfall hit at least $3.5 billion Tuesday as analysts dialed-back the state’s revenue forecast, saying sluggish tax collections and a still-faltering economy are complicating the balancing act facing Gov.-elect Rick Scott and legislators.