Governor's $114.8 billion Florida budget plan has $15 billion of reserves

Florida Gov. Ron DeSantis on Wednesday presented a proposed fiscal 2023–2024 budget of $114.8 billion, which includes reserves of more than $15 billion.

"Our budget proposal not only builds on the successes of the past four years, but ensures that Florida will continue to thrive," DeSantis said in a statement.

DeSantis, a Republican, coasted to reelection in November in elections that expanded GOP legislative majorities that were already willing rubber stamps for the governor.

Florida Gov. Ron DeSantis introduced a $114.8 billion budget that would include a $15 billion reserve.
Bloomberg News

DeSantis' proposed budget is up from the $112 billion current budget lawmakers passed last year.

The budget proposal contains an across-the-board 5% pay increase for all state employees; an additional 10% increase over the statewide average for certain "hard-to-hire" positions of importance for state government; and an increase for correctional officers to $23 per hour.

The budget would provide $100 million for the Florida Job Growth Grant Fund, which supports additional economic growth in Florida by providing local areas with funding for proposed public infrastructure and workforce training projects.

It also would provide another $100 million to continue the state marketing and promotion efforts of VISIT FLORIDA, the state's official tourism marketing corporation.

Four permanent tax cuts and more than 10 temporary tax cuts are being proposed.

The permanent tax cutswould be sales tax exemptions on baby and toddler necessities; cribs and strollers; over-the-counter pet medications; and, in a performative nod to a culture war that has reached the appliance market, gas stoves.

Temporary holidays would include tax exemptions on children's books, children's toys, children's athletic equipment, certain household items and clothing, disaster preparedness items, outdoor recreation items, dental and oral hygiene products, pet food, hand and power tools, energy star appliances, and natural gas.

Key spending proposals in education include a $200 million increase to $1 billion of funding for salary increases for new and veteran teachers and other eligible instructional personnel; and $1.6 billion for early childhood education.

The $26 billion of proposed funding would send $14.1 billion to the state's K-12 public school system, $1.5 billion to the Florida College System; and $3.1 billion to the State University System.

The budget does not include any tuition or fee increases for Florida's colleges and universities.

DeSantis has recommended spending more than $614 million on Everglades restoration projects and $370 million for targeted water quality improvements.

Under the budget, the state Department of Transportation would get $14.7 billion, of which $13.4 billion would be provided for the State Transportation Work Program, an ongoing five-year plan for completion of transportation infrastructure projects, including the construction and maintenance of Florida's roads, bridges, railroads and ports.

Additionally, in another nod to the culture war audience, the budget contains a recommendation for $12 million in funding to "continue implementation of the governor's initiative to protect Floridians against the harms resulting from illegal immigration by facilitating the transport of unauthorized aliens from any point of origin in the U.S. to any jurisdiction."

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Florida State of Florida State budgets Public finance
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