Budget Agreement Reached

A budget deal has been agreed upon by the House and Senate after early morning negotiations Tuesday.

"We worked, (Senate President Mike Haridopolos) and I until 4-ish a.m. trying to bring about a resolution," said Sen. J.D. Alexander, R-Lake Wales, the Senate's chief negotiator. He added that the budget, which cuts $3.8 billion and makes up the current shortfall, was one of the hardest to accomplish.

The agreement was reached after the Senate agreed to fund the Meds-Ad and Medically Needy programs, Medicaid programs that aid the elderly and economically disadvantaged in need of health care.

"The main area that's been hanging us up was the (health and human services) budget, in Meds-Ad and Medically Needy, two very important programs that draw down federal match and additional resources," Alexander said.

Gov. Rick Scott also got a win of sorts in the budget deal, as a corporate tax break was included. The corporate income tax exemption was raised from $5,000 to $25,000. The measure will mean about $30 million in tax relief, far short of the $1.3 billion sought by Scott, who consistently pushed the reduction and eventual elimination of the corporate income tax.

The deal means the regular session, scheduled to end Friday, could end on time. Alexander and House budget negotiators expressed concern about being able to finish on time Monday after budget negotiations looked to be at an impasse.