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Florida TaxWatch Releases 2021 Budget Turkey Watch Report

Press Releases

Tallahassee, Fla. – Today, Florida TaxWatch (FTW) released its 2021 Budget Turkey Watch Report, an independent review of the state’s FY 2021-22 budget. The annual practice is based on the principle that, because funds appropriated by the Legislature belong to Florida taxpayers, the process must be transparent and accountable, and every appropriation should receive proper deliberation and public debate. 

General Revenue Estimates for the Current Budget Year Reduced by $3.4 Billion

Budget & Appropriations, Research

After 128 months of economic expansion through February 2020, the global coronavirus pandemic brought on the largest post-war contraction in U.S. history. With the resulting closure or slowdown of businesses, record unemployment, and a loss of tourism, Florida’s economy is suffering. The impact on government revenue has been and will continue to be profound. The General Revenue Estimating Conference met on August 14 and reduced the revenue projections by $3.420 billion in the current budget year and $1.994 billion in FY2021-22. This follows news that actual collections in FY2019-20 fell $1.9 billion short of the estimate. 

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