Welcome to

Capitol News Service

Florida's Best Political Coverage on Television

Florida Revenue Picture Bright

January 4th, 2022 by Mike Vasilinda

When Florida lawmakers return to the Capitol next week to begin their annual session, they will have more money than anticipated. State tax collections, buoyed by rising consumer spending, were up almost 400 million dollars in November. As Mike Vasilinda tells us, state economists, even with inflation, are cautiously optimistic about the future.

Florida’s November revenue collections were 398.8 million higher than economists predicted. It follows a nearly year long trend of larger than expected tax collections. 

“We had a lot of stimulus money. Some of that is starting to fade out”

Amy Baker is the coordinator at the office of Economic and Demographic Research.

“We’re continuing to recover from the worst effects of the pandemic. We’re continuing to grow says Baker.”

Florida businesses remain weary of national policies, but they are also seeing a rising tide, even with staffing and supply chain shortages.

 

Bill Herrle is the executive Director of the Florida Chapter of the National Federation of Independent Businesses.

“Forty-four percent of small business owners have reported increasing wages in the last quarter. We’re doing what we can to bring workers back. But of course, that could mean higher prices too” says Herrle. 

Even the Governor noted the upswing when he announced his 99 point 7 billion dollar Freedom First budget.

“Florida is clicking on all cylinders” the Governor told reporters when he announced the budget on December ninth.

The governor also doubled down on the states economic freedom Monday, after reports that one of his biggest critics, Congresswoman Alexandria Ocasio-Cortez vacationed maskless in Miami.

“If I had a dollar for every lock down politician who decided to escape to Florida over the last two years, I’d be a pretty dog gone wealthy man” Said DeSantis.

State economists tell us the rising inflation we’re now seeing is a double edged sword.

Inflation will initially bring more money to the state before damaging consumers purchasing power.

And as lawmakers begin writing the state budget next week, they are better able to say yes to new spending than perhaps anytime in the states history, with as much as seventeen billion in reserves.

Posted in State News | No Comments »

Comments are closed.

copyright © 2016 by Capitol News Service | Powered by Wordpress | Hosted by LyonsHost.com