New General Revenue Estimates Add $2.1 Billion to Expected Collections
The General Revenue Estimating Conference (GREC) met on December 18 and 21 and increased Florida’s general revenue (GR) projections by $1.486 billion in the current budget year and $623 million in FY2021-22.1 This restores 39 percent of the $5.4 billion two-year reduction in the estimates adopted by the GREC last August. |
AS WE CLOSE OUT A TUMULTUOUS YEAR for Florida, defined by COVID-19 and its resulting disruptions to everyday life, we consider what may lie ahead for Florida’s economy in 2021. If there’s one thing assured for next year, it is that much economic uncertainty will persist against the backdrop of a constantly changing pandemic. Yet with several promising vaccines on the horizon and gradually improving labor market conditions, Florida looks poised to undergo the slow but steady process of economic rebuilding over the coming year.
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TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its review of the Broward County School District's SMART Program in its report Monitoring and Oversight of General Obligation Bonds to Improve Broward County Schools: SMART Program Quarterly Report Review for the Quarter Ended September 30, 2020. While the BOC meeting originally scheduled for today, Monday, December 14, 2020 has been canceled, the released report includes five recommendations which will be presented and discussed by FTW Senior Vice President of Research Bob Nave at the next meeting of Broward County Bond Oversight Committee (BOC). |
On November 20, 2020, Florida TaxWatch received the Bond Oversight Committee Quarterly Report for
the Quarter Ended September 30, 2020 (“Quarterly Report”). This single 854-page 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, and art equipment, improve
safety, upgrade athletic facilities and renovate educational facilities.
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Whether purchasing a car, picking up coffee, or paying a contractor, consumers play an important role in the U.S. economy, where personal consumption represents around 70 percent of the nation’s gross domestic product. It comes by no surprise, then, that consumer optimism acts as an important indicator for the overall strength of the
economy. |
The Taxation of Groceries in Florida
As Thanksgiving nears and we think about the many blessings we have to be thankful for, here’s another one to add to the list: groceries are exempt from the Florida sales tax. |
On November 3, 2020, Floridians went to the polls (or voted by mail) to elect the next President of the United States, voted on numerous state and local races, and decided the fate of six proposed amendments to the Florida Constitution. As if that were not enough, voters across the state had to consider more than 200 local referenda, including some significant tax increases This wrap-up looks at how these measures fared. |
Application surges during the COVID-19 pandemic have exposed the shortcomings of the current state-administered, federal safety net programs, especially the Reemployment Assistance (Unemployment Insurance) program. This report explores Florida’s opportunity to implement more efficient and cost-effective business processes, thus reducing the size of government, saving the taxpayers money, and improving service delivery to Floridians in need. |
College football teams serve as important economic drivers in their local communities. |
Is Halloween candy a trick or a treat? Both, if you’re buying it in Florida! Groceries are generally exempt from the Florida sales tax, but candy can get confusing. |
The following is a compilation of the tax and fee increases, bond issues, proposed exemptions, and selected other significant fiscal referenda that go before Florida voters on November 3. |
This report is part of our larger How Florida Compares series, which is intended to help Floridians better understand their state through data. This report, like each report in this series, provides neutral, nonpartisan information on where Florida ranks compared to our 49 sister states and the national average. |