Florida TaxWatch: Lower Gas Prices Boost Floridians' Expendable Incomes

Florida TaxWatch released a study on Friday showing lower gas prices are leading to Americans keeping up to $140 billion in their wallets. 

The report shows much of the benefits fall on lower earning Americans even as oil producing states have seen a less of up to 250,000 jobs due to the drop in gas prices. 

Dominic Calabro, the president and CEO of Florida TaxWatch, said Floridians were keeping more of their money due to the drop in prices. 

“With various factors causing gas prices to plummet, Floridians will have more expendable income at their disposal,” Calabro said on Friday. “The average Floridian saw savings between $540 and $700 last year, meaning their hard earned dollars are back where they belong: their wallets.”

The report can be read here.