TALLAHASSEE
Tumbling financial markets are further clouding Gov. Rick Scott’s push for $1 billion in tax cuts as the Legislature deals with a suddenly less rosy financial outlook and less money to divvy up.
State budget forecasters this week said they expect that Florida will have nearly $400 million less for its budget than originally expected and that the “possibility of additional adverse international developments introduces a greater than normal degree of risk to this forecast.”
Key state legislators, including the chairman of the Florida Senate’s budget writing committee, said Wednesday that the financial turbulence will only make them more cautious about committing money this year, including the ambitious tax cut package Scott has sought that would mostly go towards businesses.
