Connect with us

Hi, what are you looking for?

Most Recent

Florida TaxWatch Releases The Taxpayers’ Guide to Florida’s Fiscal Year 2023-24 State Budget

This week, Florida TaxWatch (FTW) released “The Taxpayers’ Guide to Florida’s FY2023-24 State Budget,” providing an overview of Florida’s Fiscal Year 2023-24 state budget, which was passed by the Florida Legislature during the 2023 Legislative Session and signed by Gov. Ron DeSantis on June 15, 2023.

The guide analyzes all appropriations for the new fiscal year that began on July 1, 2023, net of the governor’s vetoes, including the $117 billion General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills. After the governor’s vetoes, these items total $118.7 billion in spending, which means Florida’s state budget has grown by 28.6 percent in the last three years, the largest three-year growth since the housing bubble and economic boom of Fiscal Year 2004-05 through Fiscal Year 2006-07.

Florida TaxWatch President and CEO Dominic Calabro offered some thoughts on the guide.

“This year, the Florida Legislature allocated $117 billion in the main budget document, which included significant investments in education, infrastructure, the environment, and more, while also enacting record tax cuts and maintaining appropriate levels of reserves. In addition, there was another $1.5 billion in appropriations contained in legislation, such as the critically important affordable housing bill known as the ‘Live Local Act’. It’s clear that state spending has increased, but Florida TaxWatch commends both lawmakers and Gov. Ron DeSantis for their commitment to handling taxpayer dollars responsibly and ensuring Florida remains the best state in the nation to live, work, and raise a family,” he said.

“Still, it should be noted that Florida’s budget surplus is dwindling – the state is expected to have $5.3 billion in unobligated General Revenue after this year’s budget, and while that is an exceptional amount, it is down from the $17.7 billion balance that was estimated to be remaining at the end of this fiscal year. What’s more, economists are expecting economic growth to slow considerably in the near future, so Florida TaxWatch believes it’s imperative that the governor and legislature strive to uphold Florida’s esteemed reputation as a beacon of fiscal stewardship moving forward,” Calabro added.

“In addition to providing many facts and figures explaining this year’s budget and detailing the spending highlights, Florida TaxWatch’s annual Budget Guide also provides past data to put it in historical context. Florida TaxWatch hopes elected leaders, policymakers, staff, and members of the media find this guide helpful to understand where and how their tax dollars are being spent, empowering them to hold their state government accountable during the year ahead,” he said in conclusion.

Author

  • Florida Daily

    Florida Daily offers news, insights and analysis as we cover the most important issues in the state, from education, to business and politics. View all posts

Advertisement. Scroll to continue reading.

Share Story Via Text, E-Mail, Facebook or Twitter

Follow Us on Social Media

Related Stories

Hurricanes

Florida’s U.S. Senators Marco Rubio and Rick Scott sent a letter to President Joe Biden urging his immediate approval of the State of Florida’s...

Florida Politics

As communities across Florida’s Gulf Coast recover from Hurricane Helene, Florida Gov. Ron DeSantis, Sen. Marco Rubio and Sen. Rick Scott are meeting with...

Florida News

With pools, lakes, rivers and coastline near every household, the risk of drowning is prevalent across the Sunshine State, and a leading cause of...

Economy

At a recent roundtable on condo costs, Florida Governor Ron DeSantis heard pleas from condo owners on large assessments they are facing due to...

Florida Politics

With condo owners’ annual fees rising due to a new law requiring annual inspections, many condominium owners in Florida are asking the state to...

Crime

During a press conference earlier today, Florida Governor Ron DeSantis announced that Florida Attorney General Ashley Moody’s Office of Statewide Prosecutor has been assigned...

Education

On Monday, Florida Governor Ron DeSantis announced record refunds to parents through the Florida Prepaid program and encouraged Florida families to take advantage of...

Florida Politics

Florida Governor Ron DeSantis announced more than $122 million in awards to small county governments and rural municipalities across the state through the Florida Department...