Florida Economists Project Continued Growth In State Money
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TALLAHASSEE, Fla. (CBSMiami/AP) — Florida's economy is continuing to grow, according to preliminary forecasts.
Sunshine State economists are gathering Friday to draw up new forecasts to predict how much Florida will collect in taxes.
The forecasts will be used to draw up a three-year outlook for the state budget.
Preliminary estimates show that economists expect the state's main budget account to grow around 2 percent during the fiscal year that ends in June. But they are predicting growth as high as 4.8 percent in the 2016-17 fiscal year.
If the forecasts are adopted it would give legislators nearly $2 billion extra in state money for next year.
But Medicaid expenses are rising and the state is expected to lose additional federal aid next year. Those expenses could shrink the size of any surplus.
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