State economist: Budget challenges loom in coming years

Florida will soon face budget issues, and legislators must address them before they hit home.

That’s the takeaway from a meeting of the Joint Legislative Budget Committee . State budget chief Amy Baker reviewed the Long-Range Financial Outlook with the bicameral panel before it was adopted, noting that normalcy and “stability” have resumed after pandemic funding boosted coffers, and challenges abound as a result.

“After taking account of the budget drivers for Critical Needs and Other High Priority Needs as well as the Revenue Adjustments, the Outlook projects a surplus for Year 1 but shows projected deficits for Years 2 and 3 of the Outlook period,” the outlook reads.

“Further, the $6.6 billion deficit in Year 3 assumes that the $1.5 billion deficit projected for Year 2 will