Aftermath of deadly storm brings extra money to Florida
Florida legislators can expect a one-time boost in money in the aftermath of Hurricane Irma according to preliminary forecasts prepared by state economists.
State economists are meeting Friday to draw up new forecasts that predict how much the state will collect in taxes.
Preliminary estimates show that economists expect the state’s main budget account to grow as much as 5 percent during the fiscal year that ends in June. They are predicting growth as high as 4.5 percent in the 2018-19 fiscal year.
Those projections show tax collections are expected to go up slightly due to rebuilding efforts now underway after Irma caused billions in damages.
If the forecasts hold, legislators would have as much as $500 million more to be used for additional spending or to offer one-time tax cuts.