State Budget Bolstered by Temporary Federal Stimulus Funds and Still Fails to Meet Needs | Print |  E-mail
May 2009

The FY 2009-10 $66.5 billion budget passed by the Legislature is the lowest state budget since 2006 and if federal stimulus funds are not included, the lowest state funding since 2005. The Legislature crafted a budget by using more than $5 billion in federal stimulus funds and making additional cuts to vital programs and services.

An Economic Analysis of the Repeal of Selected Sales and Use Tax Exclusions, Exemptions, Deductions and Credits | Print |  E-mail
April 2009

As Florida’s Legislature responds to the state’s fiscal crisis, the Florida Center for Economic and Fiscal Policy (FCEFP) urges them to employ a balanced approach when examining opportunities for cost savings in addition to working to modernize our tax policy and make it fairer while generating additional revenue. We published a report recommending a review of sales tax exemptions, exclusions and subsidies and suggested a number of items that should be repealed. Both the House and the Senate have held workshops to consider the 246 exemptions and subsidies in transactions currently removed from the sales and use tax base. Neither chamber has looked at the 121 services that are excluded. 

The Single Sales Factor for Corporate Income Taxes. Is It Really a Good Deal for Florida? | Print |  E-mail
April 2009

Some representatives of the business community are urging the Florida Legislature to change the “apportionment formula” that is used to determine a multistate corporation’s nationwide profit that is subject to Florida’s corporate income tax. Instead of calculating Florida’s corporate income tax on the portion of the multi-state corporation’s sales, property and payroll (a three-factor formula) as a percentage of the total, they advocate for a substantial change that would base a corporation’s tax on only the portion of sales in our state – a single sales factor. It is argued that this approach will stimulate job creation and investment by producing/manufacturing businesses. However, there is little evidence that would actually happen. Rather, the lost tax revenue that will result from changing the apportionment formula may impair the ability of Florida to provide vital and critical services needed.

Setting the Record Straight about Stimulus Funding for Unemployment Insurance in Florida | Print |  E-mail
April 2009

The American Recovery and Reinvestment Act (ARRA) of 2009 provides the states with billions of dollars of federal money to boost their unemployment programs. Even given the tremendous surge in joblessness in Florida and across the nation, these proposals have been among the most controversial aspects of the stimulus legislation. As Florida deliberates on proposals to draw down the state’s share of stimulus dollars (Senate Bill 516 and House Bill 1333), this report sets the record straight about many of the misconceptions circulating about the new funding.

Legislature Builds Budget With Some Revenue Increases, But Low Spending Level Will Require More Cuts and Remain Inadequate to Meet Florida’s Needs | Print |  E-mail
April 2009

With the State of Florida facing a budget shortfall of about $7 billion, the Florida Senate and House of Representatives have assembled spending blueprints that balance the books by using federal stimulus funding, budget cuts, gambling proceeds and relatively modest revenue increases.

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