An analysis of the transparency and accountability of the budget process
The $112.1 billion budget passed by the Florida Legislature for FY2022-23 contains 166 appropriations items worth $281.0 million qualifying as Budget Turkeys. These are only a portion of the record-setting more than 1,200 member projects in the new budget worth $2.8 billion. In addition, the Legislature created a new program to allow members to request at least $80 million in additional local projects from the federal State Fiscal Recovery Fund.
The 2022 legislative session is over, even if it ran a little long. Florida TaxWatch and the state’s taxpayers had a number of successes. Many bills and budget issues supported by our research and recommendations passed. Our research and input that raised concerns with legislation, helped to improve them or fail passage, including changes to the tax audit system and a very costly approach to improving data privacy
There are Plenty of Issues to Negotiate
The House and Senate have passed their respective budgets and now must hold budget conference meetings to hammer out the differences. An agreement must be reached on every number and every word in the 400-plus page appropriations bill. Budget negotiations are never easy and this year will be no exception, even with so much money available.
With state coffers already swelling, the General Revenue Estimating Conference (REC) met on January 21, 2022, to develop the state’s new forecast for general revenue (GR) collections. This is the revenue estimate that the 2022 Legislature will use for the new FY2022-23 state budget. The REC increased its estimate for GR collections by $3.3 billion in the current year (FY2021-22) and by $704 million in FY 2022-23. This means lawmakers have another $4 billion available to spend. Florida was already in its best fiscal shape in history.
Here is what Florida TaxWatch thinks the Legislature should do.
The 2022 legislative session begins today and, despite the pandemic, Florida is in an enviable fiscal position. The state’s current budget is record in size, as are our budget reserves. Revenue collections are back above pre-pandemic levels, and this Legislature will have even more money available for the next budget cycle, made possible by both strong economic performance and billions in unappropriated federal funds.