State Budget & Taxes

State taxation and budget decisions are important because they directly influence the quality of education that our children receive, the condition of the roads that we travel, and the health and safety of our communities. Taxation and budget decisions go hand-in-hand. How the state raises revenues to pay for public services is determined by its tax structure.  On the other hand, how the state decides to spend its revenue is reflected in the budget.

Featured Resources
Florida legislative budget proposals increase funding for transportation services marginally, but reduce funding for some core transportation categories. The current level of funding for transportation services is insufficient to meet growing state needs. Funding limitations impede state economic competitiveness and growth by making it harder for businesses, workers and consumers to reach one another.  Lawmakers should redouble efforts to modernize the state’s transportation system to promote economic growth.   Dhanraj Singh April 2017 The state budget proposals by the Florida House and Senate would increase funding for the state transportation system by an insignificant amount. Read more...
Press Release
New report analyzes state and local taxes paid by 240 profitable companies in the U.S. The Florida Policy Institute (FPI) today joined the Institute on Taxation and Economic Policy (ITEP) in announcing the findings of its latest report, which shows that eight Fortune 500 companies based in Florida are paying — on average — less than half the state corporate tax rate thanks to copious loopholes and generous tax giveaways. The report, 3 Percent and Dropping, examined 240 Fortune 500 companies that were profitable every year between 2008 and 2015. The report indicates that – in 2014 — the effective state corporate tax rate paid by profitable companies has declined, dropping from 3.1 percent to 2.9 percent of their U.S. Read more...
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While Florida’s adopted budget improves over Governor Scott’s initial proposal, in several areas it still fails to meet the needs of a Florida that delivers on the promise of prosperity for all its residents. Read more...
Benchmarking Florida
Florida has one of the highest incarceration rates in the nation. It is above the national average and second only to Texas among large states. The number of people confined in prison and the fast growth rate of people sent to prison will have a significant social and economic impact on the state. Read more...