Despite Recovery Florida Won't Have Extra Money In 2017
Follow CBSMIAMI.COM: Facebook | Twitter
TALLAHASSEE (CBSMiami/AP) — Florida will have very little extra money to spend in the coming year, meaning that top legislators and Gov. Rick Scott may have to slash the state budget to meet some of their promises.
The annual forecast released Tuesday shows that despite the state's gradual economic recovery Florida is expected to bring in just enough money to meet its spending needs.
That forecast shows the state will have a surplus of only $7.5 million during the fiscal year that starts in July 2017. And more importantly Florida will have a substantial budget gap of $1.3 billion in Scott's final year in office.
Amy Baker, the state economist whose office helps put together the forecast, says legislators will need to address the budget problem during next year's legislative session.
(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
