State economists take stock today of Florida’s cash flow

State economists take stock of tax collections, other revenue today.

State economists take stock of tax collections, other revenue today

Florida economists meet today to take stock of state tax collections and other revenues, shaping the debate over next year’s state budget.

Since the recession years, when state lawmakers were forced to repeatedly cut the budget because of dwindling tax receipts, Florida’s economy has been steadily strengthening. And this year’s $82 billion state budget already is expected to be completed next July with $1.5 billion left over to carry forward into 2017-18.

The surplus could be projected as slightly higher today, since revenue flowing into the treasury had been running about $50 million more than forecast for the first six months of the year.

Extra money will help. Incoming Senate President Joe Negron, R-Stuart, has already called for spending an additional $1 billion on the state’s university system and just last week, endorsed a major land-buying plan to help store and clean water flowing out of Lake Okeechobee to prevent flooding .

Gov. Rick Scott also is likely to promote another round of tax cuts, among other initiatives, when state lawmakers convene next March.

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