Fla. economists to draw up new budget forecast

Budget Cuts
Posted at 6:30 AM, Mar 15, 2013
and last updated 2013-03-15 06:30:00-04

 TALLAHASSEE, Fla. (AP) - Florida economists are drawing up new forecasts for how much money the state is expected to collect in taxes over the next few years.


      State legislators will use these latest estimates for the new state budget they are expected to pass between now and early May. The amount of money available could determine if legislators will agree to spend money on Gov. Rick Scott's priorities such as a teacher pay raise.


      In December economists projected that the state's tax collections - one sign of Florida's economic health - will grow around 5 percent for the next two years.


      The state's largest source of money is the 6-percent sales tax.  


      A big question for economists is whether the battle over automatic spending cuts in Washington D.C. is harming the state's economy.