ICYMI: Florida TaxWatch Analysis Shows $8.3 Billion in COVID-19 Disaster Relief for Florida
TALLAHASSEE, Fla. – An analysis completed by Florida TaxWatch (FTW) has shown that the “Coronavirus Aid, Relief, and Economic Security (CARES) Act” (H.R. 748), which today passed the U.S. House of Representatives and is set for President Donald Trump’s approval, will provide more than $8 billion in federal aid to Florida, including up to $3.7 billion for local governments, as the state responds to the devastating economic impacts of COVID-19.
Along with this funding, Governor DeSantis requested a Federal Major Disaster Declaration, which was approved, in part, by President Trump this week.
With the new federal aid, as well as $3.8 billion in state reserves, the state appears to be in good shape for COVID-related costs; however, if the expected drop in Florida tax revenue occurs, the state will still be short of paying for other costs that the federal bill will not cover.
You can read the full report HERE.
About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute for more than forty years and the trusted eyes and ears of Florida taxpayers, Florida TaxWatch works to improve the productivity and accountability of Florida government. Its research recommends productivity enhancements and explains the statewide impact of fiscal and economic policies and practices on citizens and businesses. Florida TaxWatch is supported by its membership via voluntary, tax-deductible donations and private grants, and does not accept government funding. Donations provide a solid, lasting foundation that has enabled Florida TaxWatch to bring about a more effective, responsive government that is more accountable to, and productive for, the citizens it serves since 1979. For more information, please visit www.floridataxwatch.org.