TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released The Taxpayers’ Guide to Florida’s FY2024-25 State Budget, providing an overview of Florida’s Fiscal Year 2024-25 state budget. The budget was passed by the Florida Legislature during the 2024 Legislative Session and signed by Governor Ron DeSantis on June 12, 2024. The guide analyzes all appropriations for the new fiscal year that began on July 1, 2024, net of the governor’s vetoes. These include the $117.5 billion General Appropriations Act (GAA), “back-of-the-bill” spending, and appropriations made in general bills. After the governor’s vetoes, these items total $118.6 billion in spending.
Florida's state budget grew by nearly 30 percent from FY 2020-21 to FY 2023-24; however, appropriations for FY 2024-25 are little changed from last year (0.02% less). The budget contains $3.0 billion less in federal funding, which was offset by increased state spending – including $2.6 billion more in General Revenue.
Florida TaxWatch President and CEO Dominic M. Calabro commented, “Gov. Ron DeSantis and the Florida Legislature are to be commended for making significant taxpayer investments in health care, infrastructure, water quality, and affordable housing while enacting record tax cuts, paying down state debt, increasing state employee salaries, and maintaining high levels of reserves.” He also noted that local member projects have proliferated: "This budget contains a record level of member projects — more than 1,600 projects worth approximately $2.8 billion before vetoes."
Calabro highlighted that the General Appropriations Act is not the only legislative spending during the session: “There were also $2 billion worth of appropriations made in general bills that are not included in the GAA total,” with most coming from General Revenue and more than $800 million being recurring spending. This includes "$717 million in a major health care bill and $536 million in a landmark environmental bill."
The guide provides past data for historical context as well as details about this year's budget highlights. "We trust this annual Budget Guide gives elected officials, policymakers, staff members, the media, and all taxpayers the information to better understand where and how Floridians’ hard-earned tax dollars are being spent,” Calabro added.
This Budget Guide can be found on FTW’s Florida Budget Hub along with an extensive portfolio of research and analyses.
About Florida TaxWatch
As an independent nonprofit government watchdog and taxpayer research institute for over 45 years, Florida TaxWatch works to improve government productivity and accountability in Florida. Its research explains fiscal policies' impact on taxpayers and businesses statewide. FTW is supported through voluntary donations from its membership and private grants.