By James Call
http://stream.publicbroadcasting.net/production/mp3/wfsu/local-wfsu-989775.mp3
Tallahassee, FL – State revenue will drop by more than $1.6 billion over the next year. James Call reports, economists say a decline in tax collections indicate that Florida's economy has stalled.
The Economists prepare a report that is used by Governor Rick Scott and the Legislature to build a state budget. Speaking to a Tallahassee business group Tuesday, Scott indicated he intends to close the shortfall with spending cuts, just like he and lawmakers did earlier this year when the state came up about three billion dollars short.
"It's a lot easier in your business if your revenues are growing. Because the other part of having to control costs every day is not as much fun. Because that is people that is marketing, that is you know, capital investment and all of those things."
Drops in sales tax and documentary stamp collections are big contributors to the expected shortfall. The next revenue estimating conference is scheduled for January. It will produce the final number used by lawmakers to write next year's state budget.