Presented to the Bond Oversight Committee on November 23, 2015, this report examines the SMART program quarterly report for Q1.
To continue our mission of sharing high quality, independent research and analysis with Florida’s taxpayers and public officials, Florida TaxWatch is proud to announce Joe Follick has joined our team as Director of Communications and External Relations
With changes being made to help ensure the safety of the state’s most vulnerable children and families, supporting those critical workers that we trust to protect our future is more important than ever, according to a new report from the independent watchdog institute, Florida TaxWatch.
In this study, Florida TaxWatch evaluates the two primary issues contributing to, and subsequently worsened by the increased demand on the system: workforce instability and increasing need for services. The study concludes by recommending that the state examine options that improve service accessibility and availability and enhance workforce stability.
An expiring sales tax exemption could have a devastating impact on the state economy, according to a new analysis by Florida TaxWatch. Florida manufacturers are exempt from paying taxes on machinery and equipment purchases, but unless lawmakers take action this spring that exemption will disappear, threatening the state’s manufacturing sector.
Given the diverse economic benefits provided by manufacturing, it is in the state’s best interest to continue to foster growth in this sector, and Florida lags behind compared to other Southern states. But while most Southern states provide broad tax exemptions for manufacturing equipment, Florida’s most important exemption to encourage capital investment in manufacturing will sunset in April 2017. The analysis in this report demonstrates that extending the exemption could provide a significant economic benefit to the state, and its manufacturing industry.
Florida’s state government agencies have requested $77.835 billion in funding from the Legislature for FY2016-17, which is $1.2 billion (1.6 percent) more than these agencies are expected to spend in the current year. The total request is made up of $29.481 billion in general revenue (GR) and $48.354 billion in trust funds. The GR request is an increase of $854.5 million (3.0 percent). The latest revenue estimates forecast $31.653 billion in GR will be available for FY2016-17 meaning that the agency requests would leave GR reserves of $2 billion.
Attracting younger physicians to Florida could help close health care access gaps and improve the state economy, according to a report from taxpayer watchdog Florida TaxWatch. The report calls for increasing the number of Graduate Medical Education programs, more commonly known as medical residencies, to attract additional doctors.
Despite advances in delivery methods, new medical schools, and its emergence as a global medical destination, Florida’s healthcare system is facing a significant challenge, as the demand for doctors in the state of Florida is outpacing the current supply. This issue affects not only Florida’s healthcare system, it can also have repercussions on the economy.
This quick look at taxes on candy and other treats in Florida includes a look at how Florida compares to the rest of the US.
Florida lawmakers will have a $635 million surplus when they craft the 2016-17 state budget, but in a new research report, Florida TaxWatch warns that spending the entire surplus will create a deficit in the near future.
A reduction in the BRT would be broad-based, benefiting a large number of businesses. All businesses that rent commercial real estate pay the sales tax on those rents, regardless of their profitability or financial shape. Reducing the sales tax would help be a significant help to struggling companies. It would also help new businesses, who may find that other startup costs rule out purchasing real estate as an option.
South Florida’s economy has seen considerable growth in recent years, thanks to a wide variety of investment options for foreign and domestic investors, according to a commentary from Florida TaxWatch, the independent, nonpartisan research group. A burgeoning innovation sector, increased foreign investment and a bolstered financial services market have augmented the region’s rapid growth.
Over the past few years Florida’s economy has been on the rise, finally shaking off the economic pain from the great recession. This positive growth has helped stimulate development in South Florida in particular. In a recent survey, more than 80% of small businesses in South Florida reported that they expect to meet or exceed their 2015 revenue targets. And the economic growth is not limited to small businesses; the South Florida Region has also seen a growth in sectors such as construction, financial services, innovation, and more.
It is estimated that the 2016 Florida Legislature will have a budget surplus for FY2016-17, meaning major budget cuts should not be needed and there should be some money left over for new initiatives. After funding a continuation budget, including expected cost increases in current programs and other historically funded items, it is anticipated that there will be $635.4 million (including an allowance for $1 billion in cash reserves) in General Revenue (GR) left over.
This annual publication takes a look at how Florida stacks up to the nation in terms of educational enrollment, outcomes, and investment.
College football victories are associated with better student recruitment, according to a recent report from Florida TaxWatch. The Economic Commentary highlights the residual academic benefits experienced by universities with winning sports teams.
Presented to the Bond Oversight Committee on August 31, 2015, this report details the best practices of successful bond oversight committees across the country. If implemented, the recommended best practices will ensure that the Committee is held to a hig
More than just boasting and claiming bragging rights, success on the field can actually affect a school’s academic standing off the field. Studies have shown that a school’s successful athletic program can have a positive impact on a university’s exposure, attracting students to the university, as well as increasing application, retention, and graduation rates.
To better educate Florida’s taxpayers and public officials using high quality, independent research and analysis, Florida TaxWatch has added several new members to its respected team.
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.
