Florida TaxWatch's 2025 Legislative Session Wrap-up Report provides a comprehensive analysis of Florida's extended legislative session that concluded June 16 with a $115.1 billion budget and $2.0 billion tax package. The Governor signed the budget on June 30 and issued $376 million in line-item vetoes, resulting in a net budget of $114.8 billion while maintaining strong fiscal reserves of $12.6 billion.
The report examines key legislative achievements including the repeal of the Business Rent Tax (BRT) effective October 1, 2025, delivering $1.3 billion in state savings, and making the Back-to-School sales tax holiday permanent with $217 million in annual consumer savings. It also analyzes continued challenges with member projects—approximately 1,700 earmarks totaling over $2.5 billion—and highlights Florida's accelerated debt reduction efforts, including $580 million dedicated this year and a cumulative $7.3 billion in tax-supported debt retired since 2019.
The analysis covers education funding with FEFP at $29.5 billion ($9,130 per student), health and human services anchored by $36.5 billion for Medicaid/KidCare, substantial environmental investments exceeding $4 billion across various water and conservation programs, and a 2% state workforce pay raise. Florida TaxWatch recommends continued fiscal discipline, enhanced transparency in project selection, and systematic implementation of tax reforms to maximize taxpayer value and maintain Florida's strong fiscal position.
Download Full Report (PDF)