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DeSantis proposes $115 billion in state spending plus a big chunk for state reserves in 2023-24 [1]

['Michael Moline', 'More From Author', '- February']

Date: 2023-02-01  

Gov. Ron DeSantis wants state government to spend nearly $115 billion during the fiscal year due to begin on July 1, while holding $15.7 billion in reserve against unforeseen contingencies, including a possible recession.

The actual bottom line would be $114.8 billion should the Legislature pass DeSantis’ budget as proposed; legislative leaders will have their own priorities for spending but often defer to their fellow Republican in the Governor’s Mansion.

DeSantis said he’d be able to spend that much money on the strength of Florida’s economy, which has generated tax collections consistency higher that predictions for the past few years, but also because of COVID assistance from the federal government.

Last year the Legislature passed a $112 million budget but DeSantis vetoes trimmed the bottom line to nearly $110 million.

U.S. Sen. Rick Scott — a Republican like DeSantis — has proposed that governors return some of that money to the federal government in order to pay some of the national debt, but DeSantis firmly rejected the idea.

He estimated the amount at issue at several hundred million.

“How much dent would that make in the debt? I mean, seriously,” DeSantis said.

“I appreciate when federal folks are concerned about how we’re managing this. Why don’t they get their house in order? Why don’t they stop spending … .” Applause cut DeSantis off.

That applause came from the perhaps 150 state workers and invited guests (according to press secretary Bryan Griffin) who filled the Florida Cabinet room to capacity in a departure from past budget cycles, when governors including DeSantis introduced their proposed budgets to reporters in a conference room just off the entrance to the governor’s office.

Before DeSantis arrived, an aid urged the crowd to show “high energy” during the event. After a slow start, the audience produced five rounds of applause.

Here are some details of the proposed budget:

$2 billion in tax cuts, including $500 million in highway toll rebates the Legislature approved during a special session late last year. Sales tax exemptions would apply to baby and toddler “necessities” including clothes, shoes, diapers, cribs, and strollers.

An exemption worth $7 million on gas stove purchases. Conservatives has embraced these appliances since the Biden administration pointed out that gas pollution can be dangerous for children.

$33.6 million in exemptions for pet medications

A $132.7 million tax holiday for children’s toys $42.5 million exemption for children’s athletic equipment.

Additional exemptions would apply to back-to-school purchases, recreational equipment, and household items under $25.

Additional details here.

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[1] Url: https://floridaphoenix.com/2023/02/01/desantis-proposes-115-billion-in-state-spending-plus-a-big-chunk-for-state-reserves-in-2023-24/

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