Florida TaxWatch Urges Legislators Not to Spend All of $635 Million Surplus

Florida TaxWatch urged state legislators not to blow through the $635 surplus expected in the 2016-17 fiscal year. 

“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, on Tuesday. “Even with more cash to spend, lawmakers should practice fiscal discipline to ensure Florida’s reserves remain healthy and the state budget is sustainable.”

Florida TaxWatch pointed to the Legislative Budget Commission’s Long-Range Financial Outlook which shows a possible deficit coming up in the next three years. 

“There will still be intense competition for funding in the next year,”insisted Kurt Wenner, the vice president for research at Florida TaxWatch. “Just as state revenue is climbing, demand for services is also increasing. State economists have predicted $1.6 billion for increased needs next year, ranging from education to health services.”

A report from Florida Tax Watch on the matter can be read here.