Fla. Economists Predicting Steady Growth

By: Associated Press
By: Associated Press

TALLAHASSEE, Fla. (AP) -- Florida economists are projecting that the state's economy should continue to grow over the next three years.

State economists are meeting Friday to draw up estimates on how much money the state is expected to collect in taxes.

Preliminary forecasts show that economists are predicting state tax collections to grow between 3 percent and 5 percent between this year and 2016. These forecasts noted that the projections are being affected by ongoing federal budget cuts known as the sequester.

If the forecast holds then Gov. Rick Scott and the Republican-controlled Legislature will have a budget surplus heading into the 2014 election year.

The state's main tax is the 6-percent sales tax. Collections of the tax dropped at the height of the Great Recession but have been recovering since then.

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