/ Categories: Research, Budget/Approps

Budget Watch - New Estimates Add More than $2 Billion to Available GR for the Budget Now Being Developed By The Legislature

The General Revenue Estimating Conference (REC) met on April 6 and increased Florida’s general revenue (GR) projections by $1.476 billion in the current budget year and $551 million in FY2021-22.1 This two-year total increase of $2.027 billion, coupled with the $2.109 billion increase from the December 2020 REC, restores more than three-fourths of the $5.4 billion two-year reduction in the estimates adopted in August 2020 – the first REC after COVID-19 hit Florida.

As the 2021 Legislature develops the next state budget, the fiscal position the state finds itself in is remarkable when it appeared, just a little more than a year ago, that we were heading towards a fiscal disaster. The Legislature will now have $38.5 billion in GR available for the next budget, almost $1 billion more than anticipated back in March 2020 when
the current budget passed and before pandemic-related costs and revenue losses were considered.

Documents to download

Previous Article Taxpayer Independence Day
Next Article An Independent Assessment of the Value of Broward up
Print
2161 Rate this article:
No rating

x

Stay Up To Date

Join the Florida TaxWatch mailing list and keep yourself informed.

Archive