In dollars, America’s debt is forecast to reach an astonishing $87.9 trillion in 30 years. This is more than $200,000 for each of the 400 million men, women, and children expected to live in the United States in 2046. This Budget Watch looks at the long-term implications of such a debt.
This Economic Commentary looks at Florida’s mid-year job growth figures, showing that the state has added approximately 244,500 non-farm jobs over the past year.
To decrease recidivism and increase the return on state investment in corrections, offenders need to be able to find jobs and keep them; however, there are several barriers to this goal. This paper addresses some of these barriers and makes policy recommendations.
This guide compares the revenue and expenditure profiles of Florida’s 67 counties to give taxpayers an overview of how their local government stacks up with the rest of the state.
Pursuant to Article III, section 19(i) of the Florida Constitution, the Government Efficiency Task Force (“Task Force”) is pleased to submit its final recommendations to the Governor, the Chief Justice of the Supreme Court, the Chair and Vice Chair of the Legislative Budget Commission. The enclosed report includes 29 recommendations which, if implemented, will significantly improve the efficiency of government operations and will reduce the costs of government by more than $2 billion annually.
The FY2017-18 budget process is now underway. The Governor’s office recently provided budget instructions to state agencies to use in formulating their legislative budget requests (LBRs), which are due on October 14. The Governor will then use the LBRs to develop his budget recommendations, which must be provided to the Legislature at least 30 days before the start (March 7) of the 2017 Legislative Session.
In states across the nation, minimum wage policies continue to dominate political and economic discussions. Recently, two of the nation’s largest states, New York and California, have both passed laws that will gradually raise the minimum wage in those states to $15/hr. This report examines the potential impact of an abrupt raise of Florida’s minimum wage to $15/hr.
Presented to the Bond Oversight Committee on May 23, 2016, this report examines the SMART program quarterly report for Q3.
Florida can no longer rely on the outdated and inefficient policies of the past, and must begin to consider policies and practices that not only keep Floridians safe, but also address the two primary drivers of growth in the criminal justice system: overincarceration and recidivism. The recommendations detailed in this report, while by no means an exhaustive list of necessary improvements, aim to put Florida on the path to achieve these goals.
Wednesday, April 20 Florida TaxWatch celebrates Florida Taxpayer Independence Day 2016: the day Floridians are finally earning money for themselves and not for the tax collector. This symbolic date assumes that every dollar earned since January 1 goes to pay federal, state, and local tax obligations. In 2015, for the average Florida household, paying its taxes takes 110 out of 365 days, or more than three and a half months.
This session saw a number of bills that advanced Florida TaxWatch recommendations become law. This publication is a final look at the legislation followed by TaxWatch this Session.
One key metric that is widely overlooked in the unemployment rate discussion is the labor force participation rate (LFPR), which measures the percentage of the total population aged 16 and above who are currently employed or are unemployed and actively seeking employment. While overlooked, the LFPR is one of the most important metrics to understanding the overall landscape of the job markets.
Each year, the Budget Turkey Report consists of only a very small percentage of the state budget and this year represented just over 0.1 percent. The $82.3 billion budget passed by the Florida House and Senate on March 11, 2016 contains 143 appropriations items worth $104.9 million qualifying as Budget Turkeys.
Have you ever wondered how Florida’s taxes stack up against the taxes in other states? If so, this report is for you. The annual Florida TaxWatch How Florida Compares: Taxes report ranks Florida’s state and local taxes against those levied around the nation.
There are very few products or services that impact, in one way or another, nearly every consumer in the United States. One product that does is gasoline. This Economic Commentary focuses on the impact of the reduction in oil prices on the U.S. and Florida consumers.
Presented to the Bond Oversight Committee on February 25, 2016, this report examines the SMART program quarterly report for Q2.
Tourism is vital to the economy of Florida, and with the recovery of the world economy, international travel across the world is reaching record highs. This, coupled with data showing the major positive impact international tourists have on economies, provides evidence that Florida should expand its efforts when it comes to attracting foreign visitors to the state.
The House and Senate passed their respective state budgets for FY2016-17 with four weeks remaining in the 2016 Session. They will now go into the budget conference process to negotiate the differences. Conference meetings could start as early as this week (the week of February 22).
This analysis finds that Florida’s competitive tax climate and welcoming weather entice businesses to our state, but Florida must provide targeted incentive packages that will help create high-paying jobs in the Sunshine State as we compete with other states for domestic and global business.
As the global manufacturing industry shifts away from classically portrayed steel and car plants to a modernized approach of high-tech manufacturing; companies, countries, and states find themselves looking for a way to best position themselves to benefit from the future of manufacturing. Florida finds itself in a unique position to capitalize on an existing project that could help the state become a world leader in high-tech manufacturing for years to come.
For over 45 years, donor support has made Florida TaxWatch the state’s leading independent voice for taxpayer accountability. There are many ways to support our mission.
