A.G. Gancarski
The Florida Senate extended the Session until Friday the 20th, a full week past Friday the 13’s Sine Die.
However, a full week may not be needed for the budget.
Senate budget chair Rob Bradley and House budget chair Travis Cummings, though meeting Friday night, will essentially close a deal Saturday morning.
“We’ll have it on the desk hopefully Sunday,” Galvano said. “We’ll be back mid to late week to pass it. I expect an unanimous vote.”
That will position the budget for closure, putting the cap finally on the 2020 Legislative Session.
Senate President Bill Galvano described the “agreement on the budget,” which was contingent on some “recalibration” that took place.
The cause for that recalibration: “Everything that’s going on in the world today,” Galvano said, “with the reaction to the coronavirus.”
2020 saw a complicated budget situation.
An economy that already was showing warning signs of an eventual recession got whacked with the ongoing pressures created by the COVID-19 emergence.
“We had to predict that we may have to utilize reserves greater than the level traditionally used,” Galvano said, likening it to Hurricane Michael, which required $1.8 billion of reserve spending.
“Parkland, we had to find $400 million mid-session,” Galvano added.
The expected hit this time: “roughly $300 million,” Galvano said, plus another $100 million in reserves to push it up to $1.3 billion total, a stabilization fund of about $1.7 billion, and other reserves close to a billion dollars.
House Speaker Jose Oliva addressed the budget Wednesday, saying he and Senate President Bill Galvano wanted to put a “few hundred million dollars” in reserve.
The House and Senate agreed on a modified package of tax cuts late Friday night.
The Senate sponsor Kelli Stargel Stargel explained the substitute amendment as a way to “limit the tax package … to ensure sufficient funds” for coronavirus.
Among the removals: a QTI tax refund and a reduction in the communications services tax.
Revenue would be lowered. The state coffers would take nearly a $37 million haircut, and local taxes by almost $11 million.
