Tallahassee, Fla – Today, Florida TaxWatch released its 2024 UPDATE: Are Floridians Ready to Go Back to School? Not Without More Teachers, an analysis of […]
The 2023 Debt Report for Florida highlights the state’s strong financial standing, with a debt ratio below the 6% legislative target for the tenth consecutive year. Florida’s debt and debt service have decreased, while General Revenue collections increased by $3.3 billion. Rating agencies affirmed AAA ratings and a stable financial outlook. The report details Florida’s debt management strategies, including limiting debt accumulation and maintaining high reserves, contributing to a strong debt capacity and reduced future costs. Local government debt, however, remains comparatively high. The state’s prudent financial practices are underscored, benefiting taxpayers and indicating a healthy fiscal future.
The Revenue Estimating Conference (REC) met on August 16, 2022, to develop the state’s new forecast for general revenue (GR) collections. After the close of FY2021-22, which wildly exceed revenue expectations, the REC increased the estimates for FY2022-23 and 2023-24 by a total of $5.3 billion.
One only needs to look at the experience of other states that have reduced or eliminated their tourism marketing efforts to understand what will happen if VISIT FLORIDA is eliminated. States like Colorado and Washington that have drastically cut or eliminated their investment in travel promotion have experienced immediate and long-term negative economic impacts. Destinations that fail to invest consistently in travel promotion will see visitors, jobs, and tax revenues go elsewhere. Should Florida choose to follow suit, tourism and the economic activity and taxes it generates will certainly decline.
Telemedicine increases access to quality care and can be used as an innovative tool to reduce costly medical interventions such as emergency room utilization and length of hospital stay.
My name is Dominic M. Calabro, and I am President and CEO of Florida TaxWatch, an independent, nonpartisan, nonprofit taxpayer research institute and government watchdog which, for over 40 years, has worked to improve the effectiveness, efficiency, and accountability of Florida government and promote a fair and equitable system of taxation.
Presented to the Broward County Bond Oversight Committee October 5, 2020
After 128 months of economic expansion through February 2020, the global coronavirus pandemic brought on the largest post-war contraction in U.S. history. With the resulting closure or slowdown of businesses, record unemployment, and a loss of tourism, Florida’s economy is suffering. The impact on government revenue has been and will continue to be profound. The General Revenue Estimating Conference met on August 14 and reduced the revenue projections by $3.420 billion in the current budget year and $1.994 billion in FY2021-22. This follows news that actual collections in FY2019-20 fell $1.9 billion short of the estimate.
Florida TaxWatch is constantly looking to spread the word about our research, recommendations, and programs, all in pursuit of serving each and every taxpayer in Florida. Below is just a selection of where we’ve popped up in the last few weeks!
Presented to the Broward County Bond Oversight Committee June 15, 2020
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