Budget Hole Grows Bigger; New Estimates Predict $6.7 Billion Defiicit
Mar 16, 2009
The Florida Revenue Estimating Conference is part of the Office of Economic & Demographic Research, a research arm of the Florida Legislature tasked with providing objective forecasts of state revenues and the economic impact of proposed legislation.
The Conference has released its latest revenue predictions, and the economic crisis has deepened since the last estimates were released in November. The Conference has now reduced its estimate of collections for the remainder of the current fiscal year (2008-09) by an additional 4.9% and for 2009-2010 by 10.6%. They are now predicting a total budget deficit of $6.7 billion for this year and next. Click here to download the executive summary released by the Revenue Estimating Conference.
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