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The Legislative Budget Commission has adopted the Long-Range Financial Outlook, which contains an expected budget surplus of $846 million for FY 2014-15. This marks the second year in a row that the Florida Legislature will likely have a surplus after funding the continuation budget.
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According to this months Economic Commentary, in 2013, more than 1.2 million non-residents fished during a visit to Florida. In addition to attracting anglers from around the world to fish, Florida hosts boating and fishing expos throughout the year, drawing visitors and their tax dollars to the state economy. Florida's unique location and variety of fishing opportunities position the state as the world leader in sport fishing tourism.
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This infographic shows some of the major economic statistics for Leon, Wakulla, Jefferson, and Gadsden counties. (Note: Designed to be printed on 11x17" paper.)
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According to this Economic Commentary, Florida consumes more than 728 billion cubic feet of natural gas annually, 85 percent of which is used by electric utilities. Further, 59 of Florida's 67 counties have natural gas services available for industrial, commercial and residential use. While Floridians have taken advantage of the benefits of natural gas for electricity purposes, this alternative fuel may provide ample opportunities for both commercial and personal transportation developments.
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The latest Economic Commentary from Florida TaxWatch highlights Florida's successful Modeling, Simulation and Training (MS&T) sector. Simulation and training exercises replicate life-like situations in a controlled environment, which allows for substantial cost-savings especially important during government sequestration and private sector cutbacks.
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This report illustrates the positive impact of business development and trade missions on Florida's economy, highlighting the opportunities the missions create for Florida businesses, and providing details on the countries that recent delegations have visited.
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The first in a developing series about Florida's implementation of the Common Core State Standards, this Briefing gives background on the CCSS, and makes the case that in order for Florida to be an educational leader and provide the workforce talent to strengthen and transform our economy, Floridians from every sector must commit to support our students and teachers in unprecedented changes in teaching and learning.
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The 2013 Florida Legislature, with support from the Governor, passed landmark legislation that established the criteria by which the state can declare preeminent institutions of higher education within Florida's State University System. Achieving the benchmarks required for preeminence will ensure that Florida public universities rank among the highest in the nation.
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Florida has ample opportunities for economic expansion by increasing Foreign Direct Investment according to this month's Economic Commentary from the Florida TaxWatch Center for Competitive Florida. Foreign Direct Investment (FDI) is a physical investment that a foreign company makes when they buy or open businesses in Florida.
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UPDATED: With Vetoes
The 2013 Florida TaxWatch Turkey Watch Report identifies $106.8 million in Budget Turkeys. This annual Report identifies appropriations that appear in the budget at the last minute, bypassing the legislatively-established competitive process and receiving little or no public review. This years Report highlights 107 projects that deserve extra consideration for veto by the Governor.
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The 2013 Florida TaxWatch Turkey Watch Report identifies $106.8 million in Budget Turkeys. This annual Report identifies appropriations that appear in the budget at the last minute, bypassing the legislatively-established competitive process and receiving little or no public review. This years Report highlights 107 projects that deserve extra consideration for veto by the Governor.
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For the past three years, 10 Florida universities and research institutions have been focused on researching the long-term effects of the BP oil spill on the Gulf of Mexico's marine life, environment, and public health. This month's Economic Commentary focuses on three Florida university-led entities' recent research findings and developments, and how these findings make our state stand out in the scientific arena.
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This Session Spotlight focuses on legislation that adds structure and accountability to the states early learning programs and the Department of Education.
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Sunday, April 21, is Florida Taxpayer Independence Day 2013, as estimated by Florida TaxWatch. 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.
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According to this Briefing, progress on the organization of state-owned lands and facilities records has been made, although there is more to be done. The large, yet basic database has been established, but the important tasks of maintaining its relevance and making improvements remain. Phase II of this project offers significant taxpayer value.
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Encouraging an increase in manufacturing would allow Florida to further diversify its economy and produce more high-wage jobs for Floridians. The Florida Legislature can help diversify Florida's economy and create more high-wage jobs by eliminating the sales and use tax on machinery and equipment for manufacturing.
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Repealing an insurance premium tax credit that was designed to encourage insurance company jobs in Florida without fully assessing the impacts would be unwise, according to this Briefing from Florida TaxWatch.
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This Session Spotlight looks at the three pathways being debated in the proposed legislation, and how each track can help students achieve their goals through targeted coursework. The Spotlight also points out that both bills could be strengthened through increased attention to more rigorous English Language Arts assessments and professional training for teachers.
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A centralized agency with sufficient authority to set and implement enterprise-wide information technology is long overdue. Florida TaxWatch commends the Senate and the House for understanding the importance of technology governance and encourages the Legislature to establish a centralized State agency responsible for IT and business processes, with the necessary authority, as recommended by the Florida TaxWatch Government Cost Savings Task Force.
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According to this Briefing, When the Legislature wants to sweep a trust fund, it should be required to introduce a separate general bill for each trust fund sweep. This would allow input from legislators and testimony from concerned parties, and require an up or down vote on each sweep.
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This Economic Commentary looks at the opportunities for increasing Tampa Bays export industry, and the new cooperative work the area is doing with The Brookings Institution as part of a nationwide initiative.
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The Florida Agency for Health Care Administration should continue with its planned July 1, 2013 implementation of a prospective payment plan for Medicaid hospital inpatients based on a Medicaid Diagnosis-Related Group (DRG) system, according to this new Report from the TaxWatch Center for Health & Aging.
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Florida's claim bill process is in need of reform. This process—by which persons can petition the legislature for payment of tort claims against government—has received increased attention in recent years due to high profile cases and large awards. This Report makes recommendations on reforming the system.
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This summary of the Florida TaxWatch Center for Health & Aging ARNP Scope of Practice Summit recaps the presentations and panel discussion from the Summit, which brought together state and national policy experts on the topic, and helped to advance reform discussions in the Capitol.
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If the "Sequester" kicks in on March 1, the immediate cuts to the budget authority are $85 billion, and the Congressional Budget Office has indicated that spending will be reduced by $44 billion by the end of September 2013. It is incredibly important that everyone understands how detrimental these cuts will be to U.S.'s fourth largest economy and to its recovery from the Great Recession. This Economic Commentary details some of the effects of these automatic federal spending cuts on Florida.
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