Revenues will fall between $857 million and $1.2 billion next year depending on which forecast is ultimately approved as economists meet Tuesday to tweak general revenue figures in preparation for the 2012 Legislation session.
Anticipated drops in sales tax revenue and documentary stamp collects are among the leading factors leading to the expected lower forecast.
The revenue estimating conference is expected to conclude its work later Tuesday.
Going forward, lawmakers will see a drop of up to $1.5 billion in the 2013-2014 fiscal year.
Meanwhile, Governor Rick Scott said Monday the anticipated drop in revenues which will be short of this year’s spending, is “frustrating” and reiterated that in order to balance the budget there will have to be deeper budget cuts.
“That’s really frustrating….We’re going to have to go through and tighten our belts again,” Scott said during a morning interview on the Bob Harden Internet radio show.
