Florida TaxWatch Releases The Taxpayers' Guide to Florida’s Fiscal Year 2024-25 State Budget
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 budget, which was passed by the Florida Legislature during the 2024 Legislative Session and signed by Gov. Ron DeSantis on June 12, 2024. The guide analyzes all appropriations for the new fiscal year that began on July 1, 2024, net of the governor’s vetoes, including the $117.5 billion General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills. After the governor’s vetoes, these items total $118.6 billion in spending. After Florida’s state budget grew by nearly 30 percent from FY 2020-21 to FY 2023-24, appropriations for FY 2024-25 are little changed from last year (0.02% less). However, the budget contains $3.0 billion less in federal funding, which was made up with increased spending of state dollars – including $2.6 billion more in General Revenue.
Florida TaxWatch President and CEO Dominic M. Calabro said, “Gov. Ron DeSantis and the Florida Legislature are to be commended for making significant taxpayer investments in health care, infrastructure, water quality, and affordable housing, while enacting record tax cuts, paying down state debt, increasing state employee salaries, and maintaining high levels of reserves. However, local member projects have proliferated, with this budget containing a record level of member projects — more than 1,600 projects worth approximately $2.8 billion, before vetoes.
“It is important to note that the General Appropriations Act is not the only spending the legislature does during the session. There were also $2 billion worth of appropriations made in general bills that are not included in the GAA total, with most coming from General Revenue and more than $800 million is recurring spending. This includes $717 million in a major health care bill and $536 million in a landmark environmental bill.
“In addition to explaining this year’s budget and detailing the highlights, this guide also provides past data for historical context. We trust this annual Budget Guide gives elected officials, policymakers, staff members, the media, and all taxpayers the information to better understand where and how Floridians’ hard-earned tax dollars are being spent.”
This Budget Guide, along with an extensive portfolio of research and analyses, can be found on FTW’s Florida Budget Hub.
About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute, and the trusted “eyes and ears” of Florida taxpayers for more than 45 years, Florida TaxWatch (FTW) 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 taxpayers and businesses. FTW is supported by its membership via voluntary, tax-deductible donations and private grants. Donations provide a solid, lasting foundation that has enabled FTW to bring about a more effective, responsive government that is more accountable to, and productive for, the taxpayers it has served since 1979. For more information, please visit www.FloridaTaxWatch.org.