State revenue picture worsens

Florida's revenue picture continues to worsen. Preliminary figures show January's tax collections will be at least $138-million below previous estimates, to put the cumulative shortfall for November, December and January at about $230-million.

The state bureau of Economic and Demographic Research will formally announce the January revenue number in about a week, and it likely will be lower than forecast. Because tax revenue numbers are reported in the month following actual collections, the low January number reflects the 2007 holiday shopping season. A quirk in the tax picture is that gift card sales were up in 2007, but the sales tax from those cards isn't counted until the cards themselves are redeemed.

Bottom line: the Legislature's job of cutting the state budget just got a little bit tougher.

Comments

Jeb Bush and Florida Republicans have made Florida a mirror for what George W. Bush & Co. have done in Washington: Financial catastrophe caused by tax cuts for the rich, irresponsible privatization, and egotistical spending on pork projects, like the Byrd Center and the recent genomics center.

The sad thing is that these hypocritical so-called Christians will punish the sick and elderly while their fat-cat buddies fete them at the Governor's Club.

What a bunch of disgusting pigs!

ditto, 12.26
PLUS
lets reallyreally try to think of someting besides sales taxes to finance an ever-growing population with SERIOUS NEEDS, o.k.?

So what did Jeb Bush have to do with the farce of Amendment 1 that is going to continue to drive our economy to ruin? I thought Charlie was taking credit for that sham--at least until it is proven a bad idea!!!

Jeb Bush = bad idea

Chuck Crist = worse idea

Amendment 1 = foolish idea

Reality coming in the form of a Republican-created recession = priceless

[Ray]

You are right this is a 100% Republican recession and should do wonders at the ballot box. Meanwhile we just continue to suffer.

12:26

Tax cuts for the rich? You obviously havn't seen my tax bill this year you hippie freeloader

Rich= anybody who has a job or isn't on public assistance

1:58 Wrong! I make as a single woman with 2 children$75,000 per year (including child support) and my taxes went up. My sister and her husband make over $700,000 a year and their taxes went down. We all voted against Amendment 1. We want our community (Tallahassee) to be well funded. It was the greedy Real Estate Agents that fought for this Sham Legislation.

hippie freeloader = anybody who sees through the lies of hen-pecked politicians who pander to old, fat, white, pasty, rich people... and 1:49.

2:31

Not old, fat or pasty. How about intellegent, hard working and motivated. Just be glad I'm here to carry your share of the burden. BTW, You're welcome.

Rich = 250k annual income or higher.

2:13 - I live in Tallahassee and voted against amendment 1 - not because I want our community to be well funded - which they are - I voted against the amendment because it creates an even more inequitable tax structure... Also, did you realize that from 2002-2006 that property tax revenues collected by the City of Tallahassee doubled? I have not seen a doubling of services provided - and my guess is that at your income, my income and your friend's income, we will never see increased services.

3:20, you couldn’t carry my burden in that over-priced Hummer of yours. How about arrogant and compensating!

3:55 - Sounds like envy to me

4:35 - looks like reality to me

[buzzard]

Tax advertising.

if you win the election as a populist rather than a leader and a creative thinker, well looks like you get what you voted for. just about nothing. can't lower taxes. oh, that amendmnent 1 thing, yeah that lowered nothing but the water coming out the door from CC's crapper.

Maybe the senate will decide not to give CSX all that money after all. Maybe they will give up their salaries in this time of hardship. After all most of them make tons of money outside the process.

Maybe those Republican conservatives will stop ssquandering our money. Stop with the pork for your own districts take home election givaways. Millions of taxpayer dollars to go to their own counties, especially before elections.

We would not have needed Amendment 1 if the fatcat local governments did not spend like drunken sailors on shore leave.

They are the real people to blame!

[Jason Straight]

To members of the one party legislature..We are going into the toilet in this state..Stop lying to the Whoples stupid enough to vote fur ya!!We need tax reform or we will all be living in doublewides in Liberty County..No middle class family can afford the taxes and insurance anymore and Obamas gonna be president..Do something already .If you think the budget is bad now wait till next year!!

until you have real campaign reform the special interests will continue to buy your representative governemnt and no single candidate, no matter how hard they try, will effect change.

Dear 2:13 p.m.,

Explain how your taxes went up? Did you just buy a new home? I live in Tallahassee and my property taxes for 2007 were less than I paid in 2005. I project that my taxes in 2008 will be less than or equal to my last tax bill. So explain how your bill went up.

If you bought a house that cost two times as much as your previous one last year, I just can't feel to badly for you. That wasn't a decision by the city of Tallahassee or the county. That was your decision.