New General Revenue Forecast Adds $572.5 Million for the Next Budget

/ Categories: Research, Budget/Approps, Local Government

The General Revenue (GR) Estimating Conference met on January 23 to adopt Florida’s latest GR forecast—the estimate that tells lawmakers how much is available for the next state budget. The updated forecast adds $572.5 million to the amount available for the upcoming budget year, but while meaningful, it amounts to only about one percent of total GR collections.

Despite Uncertainty and Significant Downside Risk, Florida’s New General Revenue Forecast Adds $1.3 Billion to the Money Available for the New Budget

Budget Watch | March 2025

/ Categories: Research, Budget/Approps

Florida TaxWatch’s Budget Watch report for March 2025 examines the state’s updated General Revenue forecast, which adds approximately $1.3 billion to the money available for the new state budget. After a long streak of collections exceeding estimates, January’s shortfall signals a shift amid mounting economic uncertainty.

Florida’s Water Supply: Could Florida Experience a Significant Water Supply Shortage by 2025?

A Florida TaxWatch Commentary

/ Categories: Research, Energy & Environment

This commentary highlights a looming water crisis in the Sunshine State. Despite its reputation for abundant water resources, Florida could face a significant water supply shortage as early as 2025, according to projections from the Florida Office of Economic and Demographic Research. The report estimates that $1.7 billion in investments for critical water projects is needed by 2040 to avoid a severe shortage. This challenge is exacerbated by Florida's rapid economic and population growth, with an expected 26.4 million residents by 2040. The commentary criticizes current water project funding processes as disjointed and inconsistent, emphasizing the need for a comprehensive statewide strategy. It also discusses recent legislative efforts and proposes solutions, including the implementation of a Five-Year Water Project Work Program.

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Cost of Living in Florida: A Mid-Decade Check-In

Cost of Living in Florida: A Mid-Decade Check-In

For millions of Floridians, the defining economic question of the mid-2020s isn't about growth or GDP — it's about whether they can still afford to stay.

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Tourism in Central Florida: Why Tourist Development Tax Revenue Should Not Be Diverted

Tourism in Central Florida: Why Tourist Development Tax Revenue Should Not Be Diverted

To remain competitive and sustain Florida’s share of the U.S. tourism market, Florida must continue to invest in tourism marketing and promotion to make sure that when tourists begin to plan their next vacation, they think first of Florida. Florida TaxWatch recommends the Legislature not approve any legislation that permits local governments divert the use of TDT-generated revenue from tourism marketing to support other activities.

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