As the state grapples with reduced tax dollars because of the coronavirus pandemic, a joint House and Senate committee will meet next week in Tallahassee to consider a detailed report about Florida’s finances.
The Joint Legislative Budget Commission will meet Sept. 10 to receive a presentation about a draft long-range financial outlook.
The report, which is produced annually, provides extensive information about state revenues and expenses and projections for the coming years. But lawmakers will face additional issues next week because of the pandemic, which caused state general revenue to fall about $1.9 billion below estimates in the recently completed 2019-2020 fiscal year. Also, general revenue is projected to be about $3.4 billion below earlier estimates in the fiscal year that started July 1.
Amy Baker, coordinator of the Legislature’s Office of Economic and Demographic Research, will present the draft outlook during next week’s meeting, which will be in the Capitol’s Knott Building.
Republished with permission of The News Service of Florida.