Economists Boost Revenue Expectations
General revenue collections could come in about $ 2 billion dollars higher than previously expected over the next year , state economists said in the latest state revenue forecast .
. he Legislature ' s Office of Economic and Demographic Research on Wednesday raised its forecast for total net general revenue for the 2025-26 budget year that starts July 1 by $ 1.1 billion , from just under $ 48.6 billion to about $ 49.7 billion , on top of a nearly $ 1 billion higher estimate for the current year . The forecast is the basis for writing the budget that lawmakers will craft during the coming legislative session . The forecast raised the projection for the collection of general revenue during the current fiscal year by about $ 934 million to just over $ 48.5 billion .
The new projection also signals that the economic cooling that national economists have warned is starting likely won ' t have a major impact yet on state budget writers . " Today ' s estimate is good news for our state , demonstrating Florida ' s economy is healthy and growing , and while there are always some economic uncertainties , we are a little stronger now than we were earlier this year ," outgoing Senate President Kathleen Passidomo > said in a memo to members . Passidomo noted that Florida ' s coffers have been bolstered in recent years by extra federal pandemic-relief funding , which has allowed for higher spending on some one-time infrastructure needs , debt pay-down and tax cuts .
That funding , however , is ending , Passidomo noted . " We know the timeline to spend pandemic funds is coming to end , and we will need to continue to make smart , fiscallyresponsible adjustments to align our budget with post-pandemic level spending that is balanced and sustainable for the long term ," she wrote . Passidomo remains president of the Senate until the election of a new Legislature this November after which lawmakers will swear in a new president , Sen . Ben Albritton R-Wauchula .
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