Moffitt Cancer Center has been a name to reckon with in the field of cancer research. They focus on cutting-edge technologies and discoveries that can rapidly be transformed into improved preventive, therapeutic, and diagnostic advances. The center has an expert and experienced multispecialty cancer care team that ensures high-end treatment to the patients and helps them to get back to the road of recovery.
Funding Of $26.9 Million Every Year
In a recent development, an announcement was made about the Moffitt Cancer Center getting funding of $26.9 million every year. The amount disbursement will begin from the next fiscal year, and the 2024-25 fiscal year will be increased to $38.4 million. This development came as per Senate Staff Analysis.
“More Money Targeted To Tampa's Moffitt Cancer Center. Moffitt Cancer Center would get $26.9 million annually starting next fiscal year and $38.4 million starting in the 2024-25 fiscal year, according to a Senate staff analysis.”[1]
Florida Lawmakers Approved A Tax Package
According to Ed Hooper, the Senate Sponsor, R-Clearwater, this amount would help the reputed Moffitt Cancer Center upgrade its infrastructure. The center can now look forward to building a new campus. It is undoubtedly going to be a huge help for the center that is doing great work and making long strides in the field of cancer research and treatment. On Friday, the Florida lawmakers approved a tax package which is now expected to lead to the Honorable Lee Moffitt Cancer Center getting millions of additional dollars per annum.
The people of Florida have welcomed this move. HB 7061, or the bill passed by the lawmakers, includes a change in the formula for cigarette distribution tax revenues. In March, the Senate approved SB 866, a stand-alone bill on this issue, with the change getting included in a wide tax package negotiated by the Senate and House leaders.
Cigarette Tax Rate Would Reduce
The amount received by the Moffitt Cancer Center as part of the current formula is somewhere around $15.5 million, and as per the changes proposed by the House and the Senate, it would lead to an increase in them receiving $26.9 million from the upcoming fiscal year. In 2024-25, this amount would get scaled to $38.4 million, as per March's Senate Staff Analysis. The cigarette tax dollars would also reduce, at the same time going into the coffers of the state as general revenues.
Funds Will Be Used for Cancer Research as Well
The lawmakers' very positive decision would have a far-reaching impact on the cancer treatment, research, and development wing of the Moffitt Cancer Center. Once the center receives the funding, they have a lot of avenues where this money can be optimally used. Besides the construction of a new campus, the management may also decide to use the funds to further their work in cancer research. The people in Florida and other parts of the country will benefit a lot from this decision.
RESOURCES:
Published by: Book Club
Source: NewsService
Release ID: 18090