Florida budget puts millions in reserves as economic uncertainty brews. Here’s a look by the numbers

17.06.2025    WSVN 7 News Miami    1 views
Florida budget puts millions in reserves as economic uncertainty brews. Here’s a look by the numbers

TALLAHASSEE Fla AP On the th day of what was supposed to be a -day session Florida lawmakers gave final approval to a leaner state budget totaling billion marking the end of a lawmaking season that was largely defined by inter-party clashes in the Republican-dominated capitol The new budget lacks certain of the top priorities of legislative leaders and Republican Gov Ron DeSantis coming in million less than the governor s proposed budget and billion less than last year s adjusted total a goal of conservative lawmakers focused on scaling back state spending amid concerns of a broader economic slowdown The state s legislative leaders had debated for weeks over competing tax cut proposals initially pushing for broad sales tax relief for everyday Floridians before settling on a package that mostly benefits businesses I don t view this on day as a failure Republican Senate President Ben Albritton announced We dug in deep The budget now goes to the governor who has the power to veto individual line items and is known for slashing into lawmakers spending plans Here s a look at Florida s budget by the numbers A billion budget While political and tropical storms loom on the horizon Florida s legislative leaders have largely downplayed concerns about how President Donald Trump s aggressive and unpredictable economic policies could impact the state s budget even as he pledges to phase out the federal agency that responds to hurricanes and other disasters that batter the state But lawmakers have taken efforts to shore up reserves as forecasters warn of a busier than usual hurricane season and as economists fret over Trump s contract wars and a sweeping proposal to cut federal taxes and spending Lawmakers crafted a compromise budget and tax cut package which would save taxpayers and reduce state revenues by an estimated billion a year according to legislative staff They ve also taken procedures to set aside an additional million a year into a reserve fund for emergencies pending voter approval Republican House Speaker Daniel Perez declared building up the reserves is about being prepared for the unexpected None of us know what the future holds Perez reported million a year The legislature advanced a proposed constitutional amendment that would set aside million a year or an amount equal to up to of the state s general revenue whichever is less into a reserve fund that lawmakers could only use for emergencies The measure has to be approved by of Florida voters to be implemented The last time state executives tapped into the budget stabilization fund was in as the Great Recession blasted through Florida s tourism and development-heavy economic activity Boosting the reserves is a prudent move explained Republican House Budget Committee Chair Lawrence McClure and another way to cut state spending We are doing this so that are we are truly prepared for a break the glass situation McClure noted Democrats have called the reserve fund a lock box and revealed lawmakers should keep the funds on hand to help needy Floridians at a time when countless residents are priced out of their homes and schools and prisons are struggling to keep staff on the job Tax breaks for families and corporate interests The Florida House had initially called for cutting the state s overall sales tax from to A competing offer in the state Senate called for a tax break on clothing purchases under Instead the largest tax break lawmakers approved was for companies by eliminating the state s business rent tax They also approved tax cuts for a slate of special interests including casinos airlines and NASCAR Florida residents will get sales tax relief on hurricane supplies sunscreen and bug spray and a tax exemption on clothes and school supplies each August billion for school vouchers State lawmakers are setting aside billion for scholarships for private and religious coaching two years after the Legislature expanded the state s voucher project to make all K- students eligible regardless of family income Since then the state s indirect spending on private school tuition and homeschooling costs has risen dramatically which critics warn is burning through the state s budget More than state jobs eliminated Part of state lawmakers push to cut back on what they see as executive bloat is eliminating vacant positions across state agencies from the department of wellbeing to the department of children and families Numerous of the positions being cut have been vacant for three months While the number of state jobs shrinks state workers will receive an across-the-board raise while state law enforcement officers and firefighters will get a total raise and a raise if they ve been on the job for at least five years million for immigration detention at local jails The Legislature is also setting aside million in grants for local jails that have contracted with the federal regime to aid immigration enforcement efforts Florida has rushed to help the Trump administration carry out its mass deportation agenda and now leads the country in the number of local and state agencies signing on with the federal establishment to deputize their officers to carry out immigration enforcement

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