Tallahassee, Fla – Today, Florida TaxWatch released its 2024 UPDATE: Are Floridians Ready to Go Back to School? Not Without More Teachers, an analysis of […]
TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released The Taxpayers’ Guide to Florida’s FY2024-25 State Budget, providing an overview of Florida’s Fiscal Year 2024-25 state
Tallahassee, Fla. – Florida TaxWatch is announcing that tomorrow, Thurs., April 18 is Florida Taxpayer Independence Day 2024. This symbolic occasion assumes that every dollar
TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released Looking Back at Census 2020: What Florida’s Business and Community Leaders Need to Know.
An undercount is nothing new to Florida, but its current persistence inflicts costs more formidable than in previous years. Throughout the decade, Floridians can expect to lose between $11 billion and $21 billion. The decennial Census count and American Community Survey (ACS) help communities understand local patterns of population growth, specialized workers, income, employment statuses, and transportation needs.
Tallahassee, Fla. – Today, Florida TaxWatch (FTW) is releasing an economic commentary entitled The Economic and Fiscal Significance of the U.S. Census and American Community Survey (ACS). The report underscores the COVID-19 pandemic’s impact on 2020 Census data collection efforts, including disruptions to the ACS, and highlights how this impacts federal funding and critical decision-making among policymakers and business leaders alike.
Tallahassee, Fla. – Florida TaxWatch announced that tomorrow, Thurs., April 14 marks the 2022 Florida Taxpayer Independence Day. This symbolic occasion assumes that every dollar Floridians earned since the start of the year goes to pay local, state, and federal taxes, but now, they will finally begin earning for themselves. Based on the relative size of all taxes paid in Florida to the state’s total personal income, it took taxpayers an average of 103 days to satisfy their tax obligations this year, four more days than in 2021.
With state coffers already swelling, the General Revenue Estimating Conference (REC) met on January 21, 2022, to develop the state’s new forecast for general revenue (GR) collections. This is the revenue estimate that the 2022 Legislature will use for the new FY2022-23 state budget. The REC increased its estimate for GR collections by $3.3 billion in the current year (FY2021-22) and by $704 million in FY 2022-23. This means lawmakers have another $4 billion available to spend. Florida was already in its best fiscal shape in history.
The Florida TaxWatch Budget Watch series has been detailing the rapid recovery of the state government’s revenue collections from the initial precipitous drop in the early months of the COVID-19 pandemic. We have highlighted how current General Revenue (GR) estimates are back above the last pre-pandemic estimates. Coupled with billions of dollars in federal aid, Florida is in enviable fiscal shape as the Legislature heads into the 2022 Regular Session.
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