Florida’s Projected Budget 2014-2015

Despite Florida’s economists projecting an $845 million surplus for fiscal year 2014-2015, Governor Rick Scott instructed state agencies to submit budgets with a 5% cut to recurring funds. State agencies were required to send their proposed budgets to the Governor by October 15th.

Coupled with these proposed reductions is the Governor’s intent to cut taxes by $500 million for the same period.  Several suggestions have been made as to which taxes to cut, including: decreasing the sales tax currently collected on commercial leases by 1%; trimming the state’s communication services tax (cell phone, telephone and cables services); rolling back motor vehicle fees the Legislature raised in 2009; making permanent the annual school sales tax holiday and creating a hurricane holiday for June; reducing the filing fees for those forming corporations; and/or cutting the state premium tax on health care policies.

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