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Steady growth could increase Fla. budget surplus

Steady growth could increase Fla. budget surplus
Posted March 13th, 2014 @ 8:09am

TALLAHASSEE, Fla. (AP) - Florida economists are projecting a steady climb in the state's economy over the next three years.

State economists are meeting Wednesday to draw up estimates on how much money the state is expected to collect in taxes.

Preliminary forecasts show that economists are predicting state tax collections to grow between 4 percent and 6 percent between this year and 2017.

If the forecasts hold then the republican-controlled legislature will have an even larger budget surplus heading into the 2014 election year. Legislators will use the forecast adopted this week to draw up a new state budget.

The state's main tax is the 6-percent sales tax. Collections of the tax dropped at the height of the great recession but have been recovering since then.

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