Florida TaxWatch Praises Legislature for Cutting Taxes and Revenue

Florida TaxWatch praised the Legislature for cutting more than $550 million in revenue and leaving $1.65 billion in reserve.

"Florida TaxWatch commends the Legislature for reducing taxes while still being able to increase funding in many important areas, such as education funding," said Dominic Calabro, the president and CEO of Florida TaxWatch, on Monday. "Fiscal stewards in the Legislature wisely did not spend all of their available revenue; rather, they left a considerable amount in reserves, which strengthens Florida's fiscal future. However, TaxWatch encourages the Legislature to improve the integrity and transparency of the appropriations process to ensure accountability in budgeting."

Florida TaxWatch released a report on Monday which also showed taxes and fees were cut by more than $417 million this year and more than $469 million next year.

Kurt Wenner, the vice president of tax research for Florida TaxWatch, warned that next year could be more difficult.

"The revenue reductions passed by the 2014 Legislature were reasonable, but they do create a tighter budget outlook for next year," said Wenner. "The Legislature is now expected to have only $128 million more in general revenue available for the next budget."

The report can be read here.