Florida

Florida revenue projections get bump

Published

1 year ago

January 17, 2024

TALLAHASSEE, Fla. – State economists on Tuesday increased general-revenue projections by about $2.18 billion for the current fiscal year and next year, giving a boost to lawmakers as they put together a new budget.

But more than $700 million of that increased revenue has already been allocated for things such as hurricane assistance and home-hardening programs.

Also, a long-range forecast projects mostly moderate annual revenue growth — 1.6 percent to 2.9 percent — after the current fiscal year ends June 30.

That could mean hard decisions as lawmakers push priorities with big price tags.

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General revenue, which is made up of such things as sales taxes, plays a critical role in funding programs such as education, health care and prisons. A panel of economists, known as the Revenue Estimating Conference, meets periodically during the year to revise general-revenue estimates.

The projections released Tuesday replaced estimates issued in August and will be used by lawmakers in the coming weeks as they negotiate a budget for the 2024-2025 fiscal year, which will start July 1.

Most of the increase in projected revenues, about $1.591 billion, is expected during the current year.

Amy Baker, coordinator of the Legislature’s Office of Economic & Demographic Research, said that while the forecast environment has “greatly” stabilized since August, a potential for disruptions continues from geopolitical events, national fiscal-policy decisions and future Federal Reserve actions.

“Things are much more stable. We have a lot of confidence in what we’ve seen that was reflecting a good level of (economic) activity for a variety of reasons. It’s going to last a little bit more,” Baker said. “But long term, once you get out of this year, there really wasn’t a big change to either our national or our Florida economic forecasts. So, it didn’t warrant persisting that level of change or that kind of a change into future years.”

The forecast boosts revenue projections by about $585.5 million, or 1.6 percent, for the 2024-2025 fiscal year and by $505.9 million, or 2.3 percent, for 2025-2026 fiscal year. The outlook goes up by $586.5 million, or 2.9 percent, for the 2026-2027 fiscal year and by $458 million, or 2.7 percent, for the 2028-2029 fiscal year.

In the August forecast, economists removed the prospects of a “mild” recession that was in the forecast earlier.

General revenue collections through December were up $1.26 billion, or 6 percent, over the August forecast, said Stephanie Massengale, who oversees monthly revenue and financial-outlook statements for the Office of Economic & Demographic Research.

The primary driver has been sales-tax collections, which were 4.1 percent over projections. They were followed by increases in corporate income taxes, earnings on investments — because of favorable interest rates — and insurance premium taxes, Massengale said.

Inflation has helped increase sales-tax collections because of higher prices on goods. But it has also resulted in consumers using more credit, which has drawn recurring concerns from economists in monthly reports.

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Florida

Police continuing search for missing Florida man

Published

7 hours ago

January 18, 2025

Press Room

Police continuing search for missing Florida man

ORANGE COUNTY, Fla. – Police said they are continuing to search for a Florida man who went missing Tuesday.

The Ocoee Police Department said the man is 46-year-old Juan Manuel Leon.

Officials reported Leon’s family said he had been acting strangely and had not been home since Monday.

Police said Juan Leon has been missing since Tuesday. (Credit: Ocoee Police Department)

Where is Juan Manuel Leon?

The backstory:

Police said Leon last was seen Jan. 14 by officers on White Road in Ocoee.

Leon’s family reported him missing Jan. 17 from Hammocks Drive, records show.

What we know:

Officials reported Leon last was seen wearing a gray hoodie, black sweatpants, black and white shoes, and carrying a black backpack.

Leon has brown eyes and black hair, which officers said may be in braids.

Police said Leon is about 5 feet and 7 inches and weighs about 140 pounds.

What you can do:

Anyone with information on Leon’s location is asked to contact Detective Justin Hutchinson at jhutchinson@ocoee.org or (407) 905-3160.

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The Source: This story was written based on information shared by the Ocoee Police Department.

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Florida

Concerns rise in Florida as Trump, DeSantis plan immigration policy shifts

Published

15 hours ago

January 18, 2025

Press Room

Concerns rise in Florida as Trump, DeSantis plan immigration policy shifts

ORLANDO, Fla. – Advocates and those directly impacted by potential changes to immigration laws in Florida are expressing their concerns.

Two days after calling a special session on immigration, hurricane recovery and more, Gov. Ron DeSantis outlined a series of policies he believes will be easier to implement once President-elect Trump takes office.

“In this legislative session, you’re going to see some major changes in the federal government’s posture when it comes to the border and immigration,” DeSantis said during a press conference at the Polk County Sheriff’s Office on Wednesday

One of the things DeSantis said he would push for is to require local law enforcement to participate in federal immigration enforcement, which would include Trump’s plans to start a mass deportation effort.

[ What are the expected immigration policies under a second Trump Administration?]

Seventeen-year-old Polet Oaxaca, the daughter of a Central Florida immigrant farmworker, expressed her concerns to News 6.

“I feel like it’s worrisome. You never know what will happen when you go out of the house, to maybe buy groceries,” she said. “She’s scared that something’s going to happen, that she’s going to have to go back to Mexico. All that hard work going down the drain. It’s all wasted.”

Locally, the Farmworker Association of Florida is advocating for immigrants. Ernesto Ruiz, the agroecology coordinator, noted that while anti-immigrant rhetoric has intensified, it might just be empty promises.

“There is concern because even though we have been through a Trump presidency, DeSantis administration, the language is escalated, right?” he said.

“When they’re talking about record deportations, it gets people worried. It gets us worried. I remind myself, and I try to remind my friends and colleagues and community members that we have to separate Trump the candidate from Trump, the statesman. Because he says a lot of things and he doesn’t follow through with a lot of things.”

Families like Oaxaca’s remain fearful, especially with DeSantis’ proposals, which include repealing a law that allows undocumented children to pay in-state tuition rates.

“Honestly, I think they’re trying to make things difficult for us. We haven’t done anything wrong here,” Oaxaca said. “The only reason why we’ve ever, why Hispanics have come over here or immigrants, in general, have come here is for a better life for them.

Governor DeSantis also suggested implementing citizen verification for foreign remittances, a move Ruiz believes could have negative repercussions.

“By limiting the amount of money that we can go and send to communities back in the global South that need it, you’re going to increase poverty,” Ruiz argued. “How does that solve anything other than punish the people here, punish the people back there, and then create a huge incentive for more immigration to come?”

The special session the governor called to discuss immigration will be on Jan. 27.

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