State expected to avoid budget shortfall next year
TALLAHASSEE, Fla. (AP) - Florida's need to make deep budget cuts because of the recession may finally be over.
A new budget forecast drawn up by state economists shows the state is expecting in 2013 to bring in enough money to meet its needs for public schools and health care programs while leaving $1 billion for reserves.
The three-year forecast will be presented to legislators next week.
This is a turnaround from recent years when legislators have been confronted with budget shortfalls.
But the absence of a budget gap makes it easier for Gov. Rick Scott to push ahead with aggressive tax-cutting plans, including eliminating the state's corporate income tax.
Scott and the Legislature as part of an annual budget exercise had already asked state agencies to propose 5 percent worth of cuts.