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Budget Watch - The Governor’s FY2020-21 Budget and Tax Recommendations

Governor Ron DeSantis has released his $91.4 billion recommended spending plan for FY2020-21, providing a starting point for budget negotiations for when the next legislative session convenes on January 14, 2020. This could be considered his first recommended budget, since he released the last one less than a month after he took office, and agencies had submitted their budget requests three months before.

The Governor is proposing a relatively small spending increase of $418.7 million (0.5 percent). This is due in part to it containing $1 billion less in federal funds than in the current budget. General Revenue (GR) spending would increase by a little more than $1 billion. The proposed budget is only $347.8 million less than was requested by state agencies this fall and funds 980 fewer positions than requested.

Still, the Governor was able to work in significant spending for his top priorities, including $603.2 million to raise teachers’ starting salary and $634.7 million for water restoration and protection. His budget also recommends a net increase in state employee positions of 549 FTEs. 

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The Potential Impacts of New Tariffs on Florida’s Economy

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On April 2nd, 2025, a universal 10 percent tariff on all countries was announced by the federal government, with a few countries facing additional reciprocal tariffs of up to 50 percent. A week after the announcement, due to intense volatility in the bond market, a 90-day suspension on the tariffs was announced, with the exception of a 145 percent tariff on certain Chinese goods.

 

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