Latest Revenue Estimating Conference Makes Small Boost to Available Funds for Budget

A Statement on The Latest Revenue Estimating Conference by Florida TaxWatch President and CEO Dominic M. Calabro.

Today, Revenue Estimating Conference estimates that an additional $77.8 million in general revenue for the Legislature available to craft the new budget. Despite this boost, the new additions do not materially change the future outlook of the budget process. The Legislature will have to practice fiscal responsibility when crafting the state budget, ensuring that it is balanced and that it funds critical services for taxpayers.

A long-term solution to addressing the loss in revenues and future tight budget years would be by implementing the recommendations of the 2016 Constitutionally established Government Efficiency Task Force (GETF). The 29 recommendations within the final GETF report range on issues from telehealth to criminal justice. The state could realize savings upwards of $2 billion if these recommendations were acted upon by the Legislature, fifteen of which can be implemented at no cost to the state, to save $6-700 million. Those savings would be the gift to taxpayers that keeps on giving. Florida TaxWatch will be releasing a budget watch soon detailing the results of the latest Revenue Estimating Conference.