Research Library

Florida Will Receive Billions From The Infrastructure Investment and Jobs Act, But Is It The State’s Fair Share?

Budget/Approps, Research, Taxes, Transportation
/ Budget/Approps, Research, Taxes, Transportation / 3 minutes of reading

The Infrastructure Investment and Jobs Act (IIJA),1 signed by President Biden on November 15, 2021, will make a significant investment in the nation’s transportation system and other infrastructure. Billions of dollars will be distributed to the states for a wide range of projects, including all modes of transportation, broadband, cyber security, water infrastructure, energy, climate change, resiliency, and pollution mitigation. Florida will get a sizable chunk of these funds.

Monitoring and Oversight of General Obligation Bonds to Improve Broward County Schools: SMART Program Quarterly Report Review for the Quarter Ended September 30, 2021

BOC, Broward BOC, Research
/ BOC, Broward BOC, Research / 4 minutes of reading

On November 26, 2021, Florida TaxWatch received the Bond Oversight Committee Quarterly Report for the Quarter Ended September 30, 2021 (“Quarterly Report”). This 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 school safety, upgrade athletic facilities, and renovate educational facilities.

Budget Watch – FLORIDA GENERAL REVENUE COLLECTIONS HAVE OUTPACED ESTIMATES FOR 14 CONSECUTIVE MONTHS

Budget/Approps, Research
/ Budget/Approps, Research / 2 minutes of reading

The Florida TaxWatch Budget Watch series has been detailing the rapid recovery of the state government’s revenue collections from the initial precipitous drop in the early months of the COVID-19 pandemic. We have highlighted how current General Revenue (GR) estimates are back above the last pre-pandemic estimates. Coupled with billions of dollars in federal aid, Florida is in enviable fiscal shape as the Legislature heads into the 2022 Regular Session.

Corporate Income Tax Issues for the 2022 Legislature

COVID Recovery, Research, Taxes
/ COVID Recovery, Research, Taxes / 3 minutes of reading

Federal corporate income tax reform, which had the general aim of broadening the base and lowering the rate, has reduced the federal tax burden on many corporations. However, since Florida adopted most of the base expansion measures without a concurrent rate reduction, federal tax reform has resulted in increased taxes at the state level, even after subsequent state refunds and rate cuts.

A Rising Tide Sinks All Homes – The Effects of Climate Change on Florida’s Economy

Economic Development, Education, Energy & Environment, Health Care, Hurricane Ian, Insurance, Research, Retirement, Taxes, Tourism, Transportation
/ Economic Development, Education, Energy & Environment, Health Care, Hurricane Ian, Insurance, Research, Retirement, Taxes, Tourism, Transportation / 2 minutes of reading

With more than 8,400 miles of coastline and a flat, low-lying coastal topography, Florida is especially vulnerable to the effects of sea level rise. Tens of thousands of Florida homes and businesses are at increased risk from sea level rise. Much of Florida’s critical infrastructure is at low elevations, designed and built with little consideration of future sea level rise. The physical effect of changing climate translates into real economic impacts.

Beyond the Pandemic: Long-Term Changes and Challenges for Housing in Florida

COVID Recovery, Research
/ COVID Recovery, Research / 3 minutes of reading

As unexpected and unpredictable as COVID-19 has been, few could have predicted the housing boom that the pandemic ignited across the nation. The U.S. housing market—notoriously known for its role in the 2007-2009 Great Recession—defied expectations and experienced record price growth over the past year as demographic trends, government policies, and basic supply and demand all coalesced. In the short term, soaring home prices have been well-documented both analytically and anecdotally.

Who Knows What—Analysis of Data Privacy Legislation in Florida

Research
/ Research / 3 minutes of reading

Florida TaxWatch undertakes this updated, independent assessment to better understand the economic impacts that consumer data privacy legislation would have in Florida. The report details the individual cost components that would comprise compliance activities. Building upon the previous research brief, this report calculates the potential economic cost of litigation that a private right of action would produce. The recommendations contained at the end of the report provide policymakers with some key considerations to minimize adverse outcomes while attaining the core goal of data privacy.

2022 Legislature Should Reauthorize the Qualified Target Industry (QTI) Tax Refund Program

Economic Development, Research, Taxes
/ Economic Development, Research, Taxes / 4 minutes of reading

There has been an ideological debate regarding economic development incentives brewing in the Legislature for several years. The Qualified Target Industry (QTI) Tax Refund Program is a performance-based program that refunds some of the taxes a business has already paid, but only after it is verified that the contracted requirements have been met, including the promised increase in high-wage jobs.

Monitoring and Oversight of General Obligation Bonds to Improve Broward County Schools: SMART Program Quarterly Report Review for the Quarter Ended June 30, 2021

BOC, Broward BOC, Research
/ BOC, Broward BOC, Research / 3 minutes of reading

On September 17, 2021, Florida TaxWatch received the Bond Oversight Committee Quarterly Report for the Quarter Ended June 30, 2021 (“Quarterly Report”). This 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 arts equipment, improve school safety, upgrade athletic facilities, and renovate educational facilities.

Budget Watch – What a Difference a Year Makes

Budget/Approps, Research, Taxpayer Guide
/ Budget/Approps, Research, Taxpayer Guide / 2 minutes of reading

Last year, COVID-19’s arrival in Florida and the attendant economic shutdown had state forecasters—and virtually everyone else–predicting gloomy fiscal times for Florida. The 2020 legislative Long-Range Financial Outlook estimated that the 2021 Legislature would be facing a budget shortfall of $2.7 billion, and without significant spending cuts, the shortfalls would continue for at least two more years.

Debate in Public Schools

Blog, Education, Research
/ Blog, Education, Research / 5 minutes of reading

 How can scholastic debate and the business community work together to drive Florida’s students forward? One option is to look at existing programs, like the Broward County Public Schools (BCPS) Debate Initiative, which now boasts approximately 15,000 students in every high school and learning center, every middle school, and in more than 100 elementary schools. The Initiative is a partnership between BCPS and local businesses, whose sponsorships and donations are critical in supporting debate opportunities for BCPS students.

Beyond the Pandemic—Long-Term Changes and Challenges for Postsecondary Training

COVID Recovery, Economic Development, Education, Research
/ COVID Recovery, Economic Development, Education, Research / 2 minutes of reading

Shifting demographics as the Baby Boomer generation exits the labor force will also fuel broader changes for the working population. For these reasons, the needs of the future workforce place a premium on human skills development—equipping individuals with the requisite skills to be prepared for a workforce full of disruption and displacement. Increasingly, postsecondary institutions and industry will both be crucial to training workers for an ever-evolving economy.

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