Florida economists drawing up new budget forecast

Author: Associated Press
Published:
MGN

TALLAHASSEE, Fla. (AP) – Preliminary estimates are showing continued steady growth in the state’s economy.

State economists are meeting Tuesday to draw up new forecasts to predict how much the state will collect in taxes.

The forecasts will be used by state legislators as they draw up this year’s budget.

The initial estimates show that economists expect the state’s main budget account to grow about 5 percent during the fiscal year that ends in June. Preliminary estimates predict somewhere between 4 percent and 5 percent growth in the 2015-16 fiscal year.

If the estimates hold it means that legislators could gain a little bit more to an expected budget windfall of $1 billion for this year.

The main source of money for state government is the state’s 6 percent sales tax.

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.