SPECIAL ALERT

Good Afternoon,

Today, Florida Governor Ron DeSantis vetoed a record $1 billion in FY20-21 spending as result of the economic and fiscal realities of the coronavirus pandemic, including $550 million in spending items that the Governor himself had recommended in his proposed budget before the pandemic.

The budget signed today to take effect July 1, 2020 totaled $92.2 billion, down from the $93.2 billion approved by lawmakers in March.

The massive veto list (attached) is part of an attempt to free up enough revenue to avoid having lawmakers return to Tallahassee for a budget special session. The other part will be agency holdbacks of FY20-21 spending until the full state revenue picture is better developed.

Please don't hesitate to reach out if you'd like to discuss the FY20-21 and the impact it may have on your financial outlook.

Sincerely,

Capital City Consulting

If you need more information, please do not hesitate to contact us.