Lawmakers Near $1 Billion Deficit Reduction Deal
POSTED: Wednesday, January 7, 2009
UPDATED: 3:37 pm EST January 8,
2009
TALLAHASSEE, Fla. -- The Florida House is debating a budget-reduction package that includes nearly $1 billion in spending cuts for schools, health care and other state functions.The chamber began considering the plan Thursday and will vote Friday. The Senate will follow with floor action on its version Friday. Lawmakers then will work on resolving differences between the two before taking final votes next week.Lawmakers are meeting in a special session called to deal with an impending deficit of at least $2.3 billion in the current budget year due to a shortfall in tax collections resulting from the nation's sagging economy.Besides spending cuts, both plans would tap reserves, shift funds among programs, increase traffic fines, and borrow from trust funds including an endowment that invests the state's tobacco settlement funds for future use on health care programs for children and the elderly.
Previous Stories:
- January 6, 2009: Partisan Sniping Erupts Over Florida Budget Deficit
- January 5, 2009: Lawmakers Get To Work On $2.3B Budget Deficit
- December 16, 2008: Special Session To Address Budget Deficit
- December 2, 2008: State Mulls Raising Cigarette Taxes
- November 15, 2008: State Budget Cuts Exhausting School Reserve Funds
- November 6, 2008: New House Leader Expects Florida Deficit To Grow
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