Florida's economy still growing, but budget cuts loom - SaintPetersBlog

Florida’s economy still growing, but budget cuts loom

Florida’s economy is continuing to grow according to new preliminary estimates from state economists.

State officials are meeting Friday to draw up new forecasts to predict how much the state will collect in taxes.

The forecasts will be used by state legislators when writing this year’s budget.

Preliminary forecasts prepared by economists predict the state’s main budget account will grow by as much as 4.5 percent during the fiscal year that ends in June. Those forecasts estimate growth of around 4 percent for the 2017-18 fiscal year.

If the forecasts hold, legislators could have nearly $180 million more to spend.

But it probably won’t be enough to stop legislators from considering budget cuts. Citing a potential shortfall over the next few years, House Republicans are planning to cut $1.4 billion.

Republished with permission of The Associated Press.

Comments

comments

Show Buttons
Hide Buttons