Governor Charlie Crist today outlined his proposed $69.2 billion budget for Fiscal Year 2010-11, some $2.7 billion more or a 4 percent increase over last year’s. The measures unveiled today conclude a week long series of announcements highlighting the Governor’s economic, education and environmental proposals.
“As Florida rebounds from economic challenges being faced throughout the country, I am confident that the budget I am recommending will help strengthen businesses big and small, create job opportunities for Floridians in all areas of the state, establish a greater foundation for education in our schools and colleges, and secure a cleaner and safer environment that will endure for generations to come,” said Governor Crist. “This budget is an investment in Florida’s families and ensures a bright and prosperous future for our state.”
The Governor’s budget recommendations feature a strong commitment to providing families and businesses the tools they need to thrive in a growing economy, including $100 million in tax relief for families and businesses to help create jobs and economic opportunities.
Economic Development
* $9.7 billion investment in economic development, which includes infrastructure, workforce development and incentives for small businesses. Crist also proposed $32.6 million in response to the federal policy decision to end the space shuttle program and to initiate new human space exploration missions beyond earth’s orbit. As well, some $15 million have been proposed to demonstrate Florida’s strong commitment to retaining and growing its highly valued film and entertainment industry.
Education
* $22.7 billion for Pre-K-12 education to continue learning gains achieved by Florida’s students during recent years. In addition, the Governor recommended $7.1 billion for higher education, including a $100-million increase to state universities to build research and education capacity in science, technology, engineering, math, and medicine (STEMM).
Environment
* $2.1 billion recommended to safeguard Florida’s natural resources, including $50 million for the Everglades Restoration and an equal amount for Florida Forever.
In addition, the Governor recommended the following tax relief proposals:
• Corporate Income Tax Rate Cut – A one-percent reduction in the corporate income tax rate, from 5.5 to 4.5 percent, on the first $1 million of a corporation’s taxable income, helping save businesses an estimated $57.4 million.
• 10-Day Back-to-School Sales Tax Holiday – Anticipated to save Florida families $52.1 million in sales taxes.
• Delayed Unemployment Compensation Tax Increase – Changes going into effect January 1, 2010, increase the minimum rate from $8.40 to more than $100 for each employee. The Governor recommends the Florida Legislature pass legislation early in the upcoming Session to delay this increase and provide relief to Florida businesses.
For more information on Governor Crist’s budget proposals please click Here:
