Bill Galvano calls for at least $200M more in budget to address COVID-19

Senate President Bill Galvano meets with reporters to discuss the budget implications of the novel coronavirus.

Senate President Bill Galvano says lawmakers will have to rethink the Legislature’s budget, possibly including at least an additional $200 million to address concerns from the new coronavirus.

Senators and representatives met over the weekend to debate the nuances of the state’s expected more than $90 billion budget for the 2020-2021 fiscal year. But a falling stock market amid the COVID-19 outbreak and falling oil prices have thrown a wrench in those talks.

“Right now, the cruise industry’s in really bad condition. Things are dubious nationally, you saw what happened with the market this morning, so I think we really have to think about what dollars we’re spending and on a recurring basis,” the Bradenton Republican said.

The Senate President said he’s met with House Speaker José Oliva, Senate budget chief Rob Bradley and others to discuss implications to the economy and budget. Teacher pay and the tax package may receive a cut while state worker pay and affordable housing dollars remain a priority to fully fund.

At the beginning of the House floor session Monday, Oliva said a potential economic “panic” could lead lawmakers to reconsider the budget.

But in an unprecedented meeting in which Galvano joined reporters in the Senate press gallery, he stood firm on the budget.

“Our budget, our allocations, I feel very, very good about where we are and very strong about where we are in doing some things that really haven’t been done in years, decades,” he said. “I don’t want to overreact and then just doing a massive u-turn because of potential impacts of this virus.”

Galvano considered the $200 million a “good nice cushion” to address the coronavirus, but didn’t want to lock senators into a number. That would come in addition to the $25 million already agreed to by House and Senate negotiators.

At least one senator is self-quarantining in an abundance of caution after five House members went into self-quarantine Monday during the floor sessions. After a brief recess, the House members returned to the floor, as did the Senator.

Lawmakers use estimates of tax revenues that are produced periodically by a panel of state economists. But the most-recent estimates of general revenue — the most important source of tax dollars for the state — were released Jan. 15, the day after the legislative session started.

The coronavirus, however, had not spread across the globe in mid-January or been found in Florida and other parts of the United States. Florida on Friday night reported its first two deaths from the disease, which started in China.