Florida has remained in good financial standing this past fiscal year. This is also true of the state’s debt position. FY 2021-22 marks the ninth consecutive year with a debt ratio below the six percent target established by the Legislature. In addition:
The gap between Florida’s infrastructure needs and what Florida currently has is nearly $2.59 trillion over ten years. By year 2039, a continued underinvestment in Florida’s infrastructure at current rates will have serious economic consequences — $10 trillion in lost Gross Domestic Product (GDP), more than 3 million lost jobs, and $2.4 trillion in lost exports. Two creative solutions are public-private partnerships (PPPs) and public-public partnerships (PUPs). Why then, are there not more PPPs and PUPs?
Fiscally, Florida is in good condition. This is also true of the state’s debt position. FY 2020-21 marks the eighth consecutive year with a debt ratio below the 6 percent target.
The Taxation of Groceries in Florida
As Thanksgiving nears and we think about the many blessings we have to be thankful for, here’s another one to add to the list: groceries are exempt from the Florida sales tax.
Application surges during the COVID-19 pandemic have exposed the shortcomings of the current state-administered, federal safety net programs, especially the Reemployment Assistance (Unemployment Insurance) program. This report explores Florida’s opportunity to implement more efficient and cost-effective business processes, thus reducing the size of government, saving the taxpayers money, and improving service delivery to Floridians in need.