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Florida economists drawing up new budget forecast

in Statewide/Top Headlines by

State economists are drawing up new forecasts to predict how much the state will collect in taxes.

Economists are scheduled to meet on Tuesday. The forecasts will be used by state legislators as they draw up this year’s budget.

Late last year economists predicted the state’s main budget account would grow nearly 5 percent during the fiscal year that ends in June. Economists also predicted an additional 4 percent growth in the 2015-16 fiscal year. That growth gave legislators a budget windfall of about $1 billion.

The main source of money for state government is the state’s 6 percent sales tax, but other taxes are also counted in the total.

Florida’s overall budget is roughly $77 billion, although that includes a mix of both state tax dollars and federal aid.

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