Florida TaxWatch Releases Major Budget and Policy Recommendations for COVID-19 Economic Recovery
TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its latest report, BRINGING FLORIDA’S BUDGET BACK FROM COVID-19 A Roadmap for a Responsible Recovery, outlining major budget and policy recommendations and options to reduce state spending and maximize existing revenue sources as Florida fights to recover from the significant fiscal impacts caused by the COVID-19 pandemic. The recommendations put forward today by FTW can conservatively produce a combined nearly $6 billion in annual positive impact on the budget and include proposed legislative actions for both short-term (FY 2020-21) and long-term consideration by Governor Ron DeSantis and the Florida Legislature.
According to the most recently released data from the Office of Economic and Demographic Research (EDR), Florida’s General Revenue (GR) collections in April 2020 were nearly $880 million below estimates. The decline in April collections indicate that GR is $676.7 million below estimate year-to-date. FTW fully expects to see a further decline in May collections (reflecting April sales), driving Florida’s revenue shortfalls even deeper.
Florida TaxWatch Chairman and former Florida Senator Pat Neal said, “Since 1979 Florida TaxWatch has stood strong as a dedicated watchdog and trusted partner to guide our state forward and out of economic adversity. Now, as we all work together to recover from the COVID-19 pandemic, we are proud to once again step forward and provide our state leaders with the very best research, analysis, and recommendations to ensure economic strength and success for the Sunshine State for years to come.”
Florida TaxWatch President and CEO Dominic M. Calabro said, “For more than 40 years, Florida TaxWatch has acted as the trusted eyes and ears of Florida taxpayers and today we are proud to offer thoughtful budget and policy recommendations and options to Governor Ron DeSantis and the Florida Legislature to bring Florida’s budget back from COVID-19 and serve as a roadmap for Florida’s strong and enduring economic recovery. It is clear that our state has difficult decisions ahead, but we also know that the resolve and strength of Florida knows no limits. We look forward to working together to guide Florida forward and continue the good work of improving the efficiency of state government.”
Please click here to read the full BRINGING FLORIDA’S BUDGET BACK FROM COVID-19 A Roadmap for a Responsible Recovery report.
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.