TALLAHASSEE, Fla. - Florida economists are projecting that the state's economy should continue to grow steadily over the next three years and bring with it increased tax collections.
Economists meeting Friday concluded that the state's main tax collections would grow by 3.8 percent over the current fiscal year and then another 4.9 percent by the middle of 2015 bringing the total to $27.5 billion.
This means that Gov. Rick Scott and state legislators could have a budget surplus in excess of $1 billion even after paying for enrollment growth for schools and programs such as Medicaid.
Scott has already said he wants to cut taxes and fees in 2014 by $500 million. Leaders in the Republican-controlled Florida Legislature say they support tax cuts, but have not agreed to an exact amount yet.