Amidst a national shift towards a cooler labor market with fewer job openings, the study explores the consequent effects on wage trends and inflationary pressures. The focus is on Florida's unique position and its adaptive response to these economic headwinds, highlighting the state's labor market resilience. As job openings decline and employee separations remain high, Florida's experience offers a case study in managing workforce challenges during economic cooldowns. This paper is a must-read for policymakers, economists, and business leaders interested in the interplay between labor markets and inflation, especially those focused on the Sunshine State's economic climate.

Originally designed to serve specific community segments, credit unions have since expanded their reach and service offerings, making their tax exemptions increasingly valuable. From 1997's exemption value of $89.1 million, the exemption's worth has risen to $259 million in 2023. This report sheds light on the industry's transformations, recent trends like mergers and acquisitions, and reevaluates the rationale behind the tax exemptions. It aims to fuel informed discussions on credit union taxation and their exemption status.

Water provides varied and vital benefits to Floridians, our businesses, and visitors. We literally could not live without it. Our water resources are a massive, interconnected system, one that is expensive to maintain. Federal, state, and local governments have been spending a lot of taxpayer money on upkeep and enhancements, but there is still much work to be done.

From the early days on the edge of the Tigris and Euphrates River to now, water has long been a staple of civilization. As discussed in the Florida TaxWatch report “We Can’t Wait on Water” (January 2020), Florida relies upon high-quality water to maintain the well-being of public health, ecosystem services, recreation, property values, and economic activities, such as fishing, boating, sailing, and other water-based tourism. But Florida’s water quality is at risk.

Serving as the eyes and ears of Florida taxpayers, Florida TaxWatch annually reviews the state budget to prepare its Budget Guide, showing how hard-earned taxpayer dollars are spent. This year, consistent with a recommendation by Florida TaxWatch, line item 2923 of the 500-page General Appropriations Act appropriates $500,000 in nonrecurring funds to the Department of Management Services to contract for a comprehensive analysis to determine the fiscal impact and feasibility of extending the State Group Insurance Program (SGIP) to employees of the Florida College System.

Access to affordable, quality child care and early learning programs is essential for keeping parents in the workforce. In July 2022, Florida TaxWatch released “How Childcare Impacts the State’s Economy and Shapes Florida’s Workforce” to examine the risk unstable childcare options pose to the state’s economy. The briefing found that childcare-related turnover can cost $8.2 billion in lost earnings for families, $1.7 billion in turnover expenses for businesses, and $745.3 million in tax revenues, annually. Yet, the availability and capacity of high-quality child care and early learning programs remain limited, and often unaffordable, for many Florida families

As the 2023-24 school year begins and students return to class, Broward County Public Schools (BCPS) begins Year 10 of the SMART Program. This is significant in that former Superintendent Runcie promised the taxpayers that all SMART projects would start within five years and be completed by year seven.

Green infrastructure, including parks and greenways, is becoming an increasingly important resource for cities to use to help reduce flooding and stormwater runoff, especially in high-risk areas. As seen in Jacksonville, these resources can provide $112.8 million in savings from pollution reduction costs while at the same time helping reduce the impact of flooding and stormwater runoff. Green infrastructure also saves taxpayers and cities a significant amount on maintenance costs over the years by eliminating some of the stress for man-made drainage to handle stormwater during intense rainfalls. Using green infrastructure is a critical resource for building more resilient communities that benefit Florida’s residents and businesses and provide cost savings for taxpayers.

Over the past few years, with college tuition growing much faster than income after graduation, the mountain of pending student loan debt is growing. This affects the younger generation’s spending capacity, risk-taking willingness, and retirement savings. Recent debates focus on whether student loan debt should be forgiven, how much should be forgiven, the method of forgiveness, and the impact it would have on the future spending of taxpayers.

In May 2023, Florida TaxWatch hosted a two-hour roundtable with the latest PLA winners to discuss the philosophies, strategies, challenges, and best practices of effective principals. 

Florida TaxWatch is pleased to present taxpayers with a guide to the FY2023-24 state budget, which went into effect July 1, 2023. The 2023 Legislature appropriated a total of $118.7 billion for FY2023-24. This Budget Guide includes all appropriations for the new fiscal year— the General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills—net of the Governor’s vetoes. 

There are numerous federal programs administered by states that provide assistance to low-income and needy families. During periods of economic downturn, like the recent COVID-19 pandemic, more Florida families turn to these government programs for assistance. One such safety net program is Medicaid, the joint federal-state health insurance program that provides medical coverage to more than five million low-income, elderly, disabled Floridians and children. Signed into federal law in 1965, Medicaid was created to improve the health of those individuals who might otherwise go without medical care for themselves and their children.

As Florida continues to grow, we must ensure that our state remains affordable for people to live, work, and play. Florida’s current population boom saw the state increase its population by nearly 15 percent between 2010 and 2020. The state added a little less than three million residents in under a decade. Florida is currently the fastest growing state in the nation, and we should increase our housing stock to meet these population pressures. 

The Broward County Public Schools’ Bond Oversight Committee Quarterly Report for the Quarter Ended March 31, 2023 (“District Quarterly Report”) provides updated information on the implementation of the District’s SMART Program and the use of General Obligation Bond funds to purchase and install technology upgrades; purchase music, arts, and theater equipment; improve school safety and security; upgrade athletic facilities; and renovate educational facilities.

This is the Florida TaxWatch annual independent review of Florida’s FY2023-24 budget process. The report was started in 1983 and promotes oversight and integrity in the state’s budgeting process based on the principle that: because money appropriated by the Legislature belongs to the taxpayers of Florida, the process must be thorough, thoughtful, transparent, and accountable.  Every appropriation should receive proper deliberation and public scrutiny.  This includes member-requested projects.  

A fast-growing and aging U.S. population is posing concerns for physicians’ ability to meet patient demand in the future. Current and future population estimates from the U.S. Census Bureau indicate a projected growth of 34.8 million people from 2019 to 2034. An estimated 66% of this growth is attributed to people aged 65 or older. As such, physician shortages are especially concerning in the hospice and palliative care sector. As the population ages, the need for a higher volume of care and more specialized expertise will grow.

Well-balanced labor market dynamics support employers by moderating wage inflation and ensuring a competitive pool of high-quality candidates is available. 

Florida relies heavily on local governments to provide services to its residents. The state’s counties, cities, school districts, and special districts raise and spend more money combined than Florida’s state government. The levels of taxing and spending in different jurisdictions across the state vary considerably. This report will help you see how your county stacks up against the other 66 counties.

To complement our How Florida Compares series, which compares our state to the rest of the nation, this report looks at the myriad local governments within the state. While property taxes get most of the public attention, they only provide about one-fifth of city and county revenue. The tables, charts, and graphs in this report provide comprehensive information on local tax rates, tax collections, other revenue sources, and government expenditures.

Florida TaxWatch provides this report as a reference tool for Florida’s taxpayers, policymakers, and elected officials. 

The development of hospice programs in Florida is regulated by a Certificate of Need (CON) program. Certificate of Need programs allow the entry of new service providers if the local community has a demonstrated need. Florida is one of 13 states and the District of Columbia that continues to utilize a CON program for the development of hospice services. As Florida’s population increases and ages, it will become more critical to facilitate the growth of hospice services in the way that best serves hospice patients and protects the interests of Florida taxpayers.

Florida’s new state budget for FY2023-24 carries a price tag of $117.0 billion, which is a 6.2 percent increase over current spending. The budget also contains a few billion dollars in spending that is technically appropriated for FY2022-23, so it is not included in the $117.0 billion total. 

Tourism plays a major role in Florida’s economic strength. More than 142 million tourists are expected to visit Florida in 2023. In 2019, 131 million visitors spent nearly $100 billion, supporting 1.6 million Florida jobs that paid $57 billion in wages. The spending generated $12.7 billion in state and local taxes. Without the state and local taxes generated by tourism, each Florida household would have to pay as much as $1,420 in additional taxes just to maintain the current level of government services.

Two main drivers of Florida’s economy are tourism and real estate development. With an estimated 1,000 people moving to Florida every day, real estate development puts a strain on public facilities (e.g., roads, water and wastewater system, etc.) and services (e.g., police, fire protection, parks, etc.). Local governments rely on impact fees to generate the money necessary to accommodate the impacts of new development on existing public facilities and services.

Tuesday, April 18, Florida TaxWatch joins the taxpayers in our state in celebrating Florida Taxpayer Independence Day 2023. On that day, Floridians are finally earning money for themselves–not for the tax collector. This symbolic date assumes that every dollar earned since January 1 goes to pay federal, state, and local tax obligations. This measure of tax burden is based on the relative size of all taxes paid in Florida to our state’s total personal income. In 2023, on average, it takes Florida 107 out of 365 days to pay its taxes, or three and a half months. Floridians are experiencing tax collections that are growing faster than the personal income to pay for them, so it will take taxpayers four more days to achieve tax independence than it did last year, when the date was April 10. After Taxpayer Independence Day came earlier in six straight years, this is the second consecutive year the date falls later on the calendar. Independence is coming nine days later this year than in 2020, when the pandemic led to reduced tax collections.

Vulnerable adults, seniors, children, and families face challenges they cannot overcome alone. It is the state’s responsibility to protect and serve these individuals. Among others, the state provides services to persons in need of behavioral and mental health services, persons with disabilities, runaway and homeless youths, juvenile delinquents, and foster care youth. Each vulnerable population has their own unique set of resources made available through various state agencies and delivered by a system of human services organizations funded by the state, whether through a direct line item or through funds provided to clients.