Florida Legislature Reaches Budget Deal
TALLAHASSEE (CBS4) – Florida budget leaders have reached a deal on the state's $68 billion spending plan.
Lawmakers had to resolve the issues dividing the Florida House and Senate by Tuesday night or risk extending the legislative session past Friday due to a 72-hour waiting period before a vote can be taken after a compromise is reached.
Key differences between House and Senate budget leaders were over health and human service spending but the log jam was broken in part by a deal on a change to the exemption for corporate income taxes and the resolution of several health care issues.
Gov. Rick Scott asked for $1.7 billion including a $458 million cut in corporate income tax. The legislative deal calls for only a $30 million corporate tax cut. Most of the relief would be in property tax.
The breakthrough Tuesday also includes $308 million in tax cuts and no cuts to the state's Medically Needy program or substance abuse efforts.
They planned to meet later in the day to resolve a few remaining details, setting the stage for an on-time finish to the annual legislative session on Friday.
The final budget is expected to top $67 billion with nearly $4 billion in spending cuts.
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