TALLAHASSEE, Fla. (AP) — State economists say Florida’s economy is growing, but it won’t be enough to dissuade legislators from cutting state spending.
State officials met Friday to draw up new forecasts to predict how much the state will collect in taxes over the next few years. The forecasts will be used by state legislators to draw up this year’s budget.
Economists predict the state’s main budget account will grow by 4.4 percent during the fiscal year that ends in June. Those forecasts estimate growth of nearly 4 percent in the 2017-18 fiscal year.
The changes are projected to add $115 million to state accounts.
But that’s a small adjustment given the size of the $82 billion state budget. Citing a potential shortfall over the next few years, House Republicans are planning to cut $1.4 billion.
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.