Florida TaxWatch: Revenue on the Rise as Economy Improves

With General Revenue (GR) estimates now raised an additional $657.5 million for the next state budget, Florida TaxWatch noted this was a sign the economy is doing better.

“Florida’s economy is returning to its pre-recession days, and the available funds for the state budget reflect that strength,” said Dominic Calabro, the president and CEO of Florida TaxWatch. “Tourism is very strong and more Floridians are able to find jobs and  are spending money throughout the state.” 

But Kurt Wenner, the vice president of research for Florida TaxWatch, insitsed this does not mean there will be a surplus. 

“Even with more cash to spend, lawmakers can’t count on a big budget surplus,” Wenner said on Thursday. “There will be increased costs next year, including an additional 26,000 public school students and at least $500 million in new Medicaid spending.  There will still be intense competition for any extra dollar

Florida TaxWatch also released a report on the additional revenue on Thursday.