Florida TaxWatch Report Shows That Constitutional Amendment On Energy Deregulation Will Have A Significant Negative Impact On State & Local Revenue
TALLAHASSEE, Fla. – Florida’s premier, independent government watchdog of forty years, Florida TaxWatch has released an independent analysis examining the financial impacts of a proposed constitutional amendment initiative that may appear on the November 2020 general election ballot that would (if approved) radically alter Florida’s electricity market.
“Florida electricity customers enjoy prices that are below the U.S. average for residential and commercial electricity,” said Florida TaxWatch President & CEO Dominic M. Calabro. “While discussions about improving the Sunshine State’s energy market are healthy, such discussions should not be in a constitutional amendment. That said, Florida TaxWatch is looking forward to engaging policymakers in discussion about the financial impacts of the proposal.”
The analysis finds “that deconstructing Florida’s electricity market through the proposed constitutional amendment will likely have a significant negative impact on state and local revenues. This analysis uses the best available evidence to estimate that this amendment has the potential to cause a loss of state and local revenue from $426 million to $1.368 billion in 2026, the expected first full year of implementation.”
Read the FULL report here.
About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog & taxpayer research institute for forty years, 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 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 http://www.floridataxwatch.org.