The chairman of the Senate Budget Committee said a time out may be warranted for the session to get updated revenue projections for the next fiscal year.
Senate President Mike Haridopolos, R-Merritt Island, wouldn't rule out taking such action, but added that the budget process wont be halted as he has been given bipartisan support from members of the Senate to delay -- if necessary -- the session for the budget process.
Sen. J.D. Alexander, R-Lake Wales, who chairs the Budget Committee, said Tuesday its worth a serious look to consider taking time out of the regular 60-day session to have state economists get a better look at revenue projections for the next fiscal year.
We dont have a lot of easy decisions left, Alexander said. We dont have spare cans stuck in the cupboard. Weve used all the easy stuff and what we have left are pretty hard decisions, but I think theyre decisions we can come to terms with. But if its a billion dollars shortfall, its a lot easier than a $1.5 billion.
Haridopolos said the Senate could focus efforts on the budget now that the initial Senate redistricting maps have been completed in the second week of the session -- rather than taking up the first half or more of the session.
Were very much engaged in the budget process, Haridopolos told reporters in a meeting in the Senate conference room Tuesday afternoon.
We want to make sure that we take every piece of information as we make the adjustments in the budget to balance the budget, but were not stopping the process.
He said that the goal is to complete the process within the regular 60-day session, but added that he continues to have concerns.
As a brace against unexpected change in revenues during the next fiscal year, Haridopolos said the Senate should shoot for setting aside $1 billion as a rainy day fund in the budget.
Last Friday, Sens. Don Gaetz, R-Niceville, and Chris Smith, D-Oakland Park, in a letter gave Haridopolos the discretion to hold off the budget process while awaiting updated revenue projections that would be made closer to the start of the next fiscal year.
We simply wanted the president to know that because were here two months earlier than we normally would be that the Senate would stand behind him in any decision he would make, Gaetz said Tuesday.
On Jan. 12, state economists, sitting as the Revenue Estimating Committee, added $46 million to the forecast of taxes the state will collect, but that barely affected the projected nearly $2 billion shortfall for the fiscal year that begins July 1.
Alexander noted that revenue projections can change quickly as the global economy remains skittish.
Whenever they have significant problems, it tends to affect the confidence of Americans both from the business side and consumers, Alexander said. "That came very quickly, as we saw in July and August, when it affected our revenues by $50 million a month.
Lately, he added, monthly revenue projections, which are normally off by a $1 million or $2 million, have diverged from projections by $10 million or more.
House Speaker Dean Cannon, R-Winter Park, has repeatedly expressed confidence that the budget would be completed within the scheduled time frame.
Reach Jim Turner at jturner@sunshinestatenews.com or at (772) 215-9889.
