Latest news with #BenAlbritton
Yahoo
12 hours ago
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Budget conference begins on Tuesday
Senate President Ben Albritton (L) and House Speaker Danny Perez (R). (Photos via Florida Senate and Florida House of Representatives) Florida legislators are finally heading back to Tallahassee to wrap up their work for the year. Senate President Ben Albritton and House Speaker Daniel Perez announced late Friday that closed-door negotiations had yielded a breakthrough on the state budget as legislative leaders agreed to a 'framework' they will use to draw up a final budget bill. The plan as outlined in memos to House and Senate members is for legislators to begin formal budget conference meetings on Tuesday with the goal of voting out a new budget for 2025-26 by June 16. Florida's fiscal year starts on July 1. The main job each year of the Florida Legislature is to pass an annual budget which authorizes billions in spending on education, healthcare, the environment, transportation, public safety, and more. The lingering standoff on the budget had led to the possibility of a state government shutdown While many details remain unclear, the deal announced on Friday would yield a substantial tax cut break for businesses versus a much smaller set of tax cuts for Florida families. The agreement does not include any consideration of a cut in the sales tax rate that had been championed by Perez and House Republicans. Legislators left town in early May after failing to pass a budget during their 60-day session. On its final day, the House and Senate agreed to extend until June 6. At the time, Albritton and Perez announced an agreement to cut taxes by $2.8 billion, including a cut in the state's sales tax. But that deal fell apart after Gov. Ron DeSantis warned he'd veto it, lest it undercut his push to reduce property taxes. Albritton backed away from the earlier deal. That decision prompted sharp criticism from Perez, who said that Albritton had broken his word. The new agreement calls for $2.25 billion in 'revenue reductions' that include the elimination of the sales tax charged on commercial leases and business rent that is estimated to cost $900 million. The two sides also agreed to $350 million in 'permanent sales tax exemptions targeted toward Florida families.' The memo did not explain exactly what exemptions, although the Senate previously had suggested eliminating some taxes charged on shoes and clothes. The rest of the revenue reductions, however, would include $200 million for paying down existing state debt and $750 million that would eventually be placed in the Budget Stabilization Fund. The size of that 'rainy day fund' is now capped, so legislative leaders would ask voters in 2026 to approve raising that limit. In the meanwhile, they want to set aside money in reserves that will eventually go to the fund. SUPPORT: YOU MAKE OUR WORK POSSIBLE
Yahoo
2 days ago
- Business
- Yahoo
Florida Senate, House reach agreement on the state budget
The Brief According to Sen. Albritton's memo, the negotiated agreement includes $2.25 billion in recurring revenue reductions. This will include the elimination of the business rent tax ($900 million), permanent sales tax exemptions targeted towards Florida families ($350 million), and debt reduction ($250 million). The budget conference will begin on Tuesday, June 3, 2025. TALLAHASSEE, Fla. - Florida state Senator Ben Albritton released a statement yesterday to announce that an agreement had been reached with the house regarding the stage budget. The budget conference will begin on Tuesday, June 3, 2025. According to Sen. Albritton's memo, the negotiated agreement includes $2.25 billion in recurring revenue reductions. This will include the elimination of the business rent tax ($900 million), permanent sales tax exemptions targeted towards Florida families ($350 million), and debt reduction ($250 million). "We will also be taking up a joint resolution to amend the Florida Constitution to raise the cap on the Budget Stabilization Fund (BSF) from 10% to 25% and require an annual payment ($750 million) to the BSF until the cap has been reached," said Senator Albritton. The $750 million will be held in reserve for the next two fiscal years and will be automatically transferred to the BSF upon adoption of the amendment. In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy. The memorandum also states that the budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies. New reporting requirements throughout the budget will safeguard taxpayer dollars and improve accountability, transparency, and oversight of government spending. I appreciate everyone's grace and patience during this time. I look forward to seeing you next week. STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source This information came from a memorandum provided by Florida Senator Ben Albritton on May 30, 2025.
Yahoo
2 days ago
- Business
- Yahoo
Florida Legislature reaches preliminary budget agreement
The Brief Legislative leaders in Florida say they've reached a budget deal that includes nearly $2 billion in tax relief. The agreement paves the way for lawmakers to negotiate full spending details next week. A final vote is expected by June 16, just in time for the July 1 fiscal deadline. TALLAHASSEE, Florida - The Florida Legislature has tentatively reached a budget agreement, Florida House speaker Daniel Perez told state leaders in a memo late Friday. What we know After weeks of stalled negotiations, Florida House Speaker Daniel Perez and Senate President Ben Albritton announced late Friday that they've agreed on a budget framework for the 2025–2026 fiscal year. By the numbers The $900 million plan eliminates the tax on commercial leases, a long-pursued priority for business groups, and includes $350 million in permanent sales-tax exemptions aimed at helping Florida families. It also allocates $250 million to debt reduction and $750 million to the state's rainy-day fund. What they're saying House Speaker Daniel Perez, R-Miami, and Senate President Ben Albritton, R-Wauchula, issued memos that indicated they expect to pass a budget for the 2025-2026 fiscal year on June 16. The memos came after weeks of behind-the-scenes talks aimed at trying to kick-start the conference negotiating process. "I appreciate everyone's patience during this unusual and protracted allocation process. I am pleased to inform you that we have reached an agreement with the Florida Senate," Speaker Perez said in the memo, adding that the budget conference would begin next week. "We will also be taking up a joint resolution to amend the Florida Constitution to raise the cap on the Budget Stabilization Fund (BSF) from 10% to 25% and require an annual payment ($750 million) into the BSF until the cap has been reached," he said. "In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy," Albritton wrote in his memo. "The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies," he added. The backstory The budget impasse stems from deep divisions between the House and Senate over how to cut taxes. The House initially pushed a $5 billion plan that would have slashed the state's sales-tax rate, while the Senate favored targeted tax holidays and commercial-lease tax reductions. Although leaders said on May 2 that they'd agreed to a $2.8 billion tax cut package, that tentative deal fell apart publicly when Perez accused Albritton of backing out. Albritton countered that senators felt a blanket sales-tax cut wouldn't be felt meaningfully by Floridians. Big picture view The delay in passing a budget highlights ongoing friction within Florida's Republican-led government, particularly when it comes to fiscal priorities. With a $117 billion proposed state budget, decisions around tax policy reflect competing visions of how best to ease the cost burden on residents and stimulate the economy. The current deal leans on more targeted tax relief, signaling a shift toward smaller-scale benefits rather than across-the-board cuts. Dig deeper Among the negotiated agreements that Speaker Perez noted in his memo: $2.25 billion in recurring revenue reductions Elimination of the business rent tax ($900 million) Permanent sales tax exemptions ($350 million) $250 million in debt reduction The Florida House will convene on Thursday, June 5 at 9 a.m. The House Budget will convene that same day in the afternoon. Florida Gov. Ron DeSantis unveiled his budget proposal in February and tasked the Florida Legislature to take it up quickly. However, state lawmakers had to extend their talks as they were unable to reach an agreement. Among Gov. DeSantis' budget wishes: Repeal of the state's business rent tax Creation of a new venture capital tax credit program, funded at $100 million A 14-day back-to-school sales tax holiday on school supplies, clothing, and computers Two 14-day disaster preparedness sales tax holidays on hurricane supplies A one-month summer sales tax holiday on outdoor recreation items A 7-day tool time sales tax holiday on tools Second Amendment sales tax holiday between Memorial Day and Fourth of July on ammunition, firearms, and accessories A two-month boating fuel tax holiday on gas A year-long exemption of the mortgage tax A 2-year delay of the natural gas fuel tax set to start Jan. 1, 2026 What we don't know The memos released by legislative leaders did not specify which items will be covered by the $350 million in sales-tax exemptions. They also omitted any reference to the property-tax relief that Gov. Ron DeSantis had previously championed. The lack of detail leaves questions about how the exemptions will be structured and which families or income brackets may benefit most. What's next Conference committees will start meeting on Tuesday to negotiate details of the different parts of the budget, such as education, healthcare and criminal justice. Unresolved issues will go Thursday to House Budget Chairman Lawrence McClure, R-Dover, and Senate Appropriations Chairman Ed Hooper, R-Trinity, for further negotiations. The fiscal year will start July 1, which, if a budget passes June 16, will give Gov. Ron DeSantis two weeks to use his line-item veto authority. STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local:Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source House Speaker Daniel Perez issued a statement late Friday, May 30. Gov. Ron DeSantis unveiled his budget goals in February 2025.
Yahoo
2 days ago
- Business
- Yahoo
Budget deal Take Two: Florida House, Senate agree on 'framework' amid raucous session
Nearly a month after leaving the Capitol without passing a budget, House and Senate leaders said Friday night they had reached an agreement that will clear the way for lawmakers to begin hammering out details of a spending plan Tuesday. House Speaker Daniel Perez, R-Miami, and Senate President Ben Albritton, R-Wauchula, issued memos that indicated they expect to pass a budget for the 2025-2026 fiscal year on June 16. The memos came after weeks of behind-the-scenes talks aimed at trying to kick-start the conference negotiating process. The memos said the agreement includes a $900 million tax cut through eliminating a tax on commercial leases, a longtime priority of business lobbyists. It also includes what the memos described as $350 million in 'permanent sales tax exemptions targeted towards Florida families,' $250 million in debt reduction and $750 million in annual payments into a state rainy-day fund. 'In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy,' Albritton wrote in his memo to senators. 'The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies.' Conference committees will start meeting Tuesday to negotiate details of the different parts of the budget, such as education, health care and criminal justice. Unresolved issues will go Thursday to House Budget Chairman Lawrence McClure, R-Dover, and Senate Appropriations Chairman Ed Hooper, R-Trinity, for further negotiations. The fiscal year will start July 1, which, if a budget passes June 16, will give Gov. Ron DeSantis two weeks to use his line-item veto authority. The House and Senate were unable to reach agreement on a budget before the scheduled May 2 end of the annual legislative session because of differences about tax cuts and spending levels. Lawmakers extended the session, but House and Senate leaders remained at odds as they worked behind the scenes. The House in April approved a plan that called for cutting the state sales-tax rate from 6 percent to 5.25 percent, which would have totaled roughly $5 billion. But the Senate did not go along and pitched a plan that included providing a sales-tax exemption on clothes and shoes valued at $75 or less, sales-tax 'holidays' and trimming the commercial-lease tax. DeSantis, meanwhile, called for cutting property taxes and criticized the House's plan for reducing the sales-tax rate. Perez and Albritton indicated on May 2 that they had reached a 'framework' that would include $2.8 billion in tax cuts, including reducing the sales-tax rate. But that later blew up, with Perez publicly accusing Albritton of backing out of the deal. But Albritton said senators had raised concerns that a cut in the sales-tax rate would not be 'meaningful, felt, or seen by families and seniors when compared with other available options.' The memos released Friday night did not provide details of the $350 million in sales-tax exemptions that are included in the latest agreement. They also did not mention property-tax cuts. This article originally appeared on Tallahassee Democrat: Florida House, Senate agree on budget 'framework' after bitter divide
Yahoo
2 days ago
- Business
- Yahoo
Florida Legislature reaches budget agreement
A memorandum from the Florida state Senate says lawmakers have agreed on a joint budget allocation with the House. The budget conference is scheduled to begin Tuesday. According to the statement, Senate President Ben Albritton says the negotiated agreement includes $2.25 billion in recurring revenue reductions, including the elimination of the business rent tax ($900 million), permanent sales tax exemptions targeted toward Florida families ($350 million), and debt reduction ($250 million). Albritton says lawmakers will also make joint resolution to amend the Florida Constitution to raise the cap on the Budget Stabilization Fund from 10% to 25% and require an annual payment of $750 million into the fund until the cap has been reached. The $750 million will be held in reserve for the next two fiscal years and will be automatically transferred to the Budget Stabilization Fund upon adoption of the amendment, he said. The memo continues: 'In total, the framework set forth in these allocations provides for a fiscally responsible, balanced budget that reduces state spending, lowers per capita spending, and reduces the growth of state bureaucracy. The budget authorizes early payoff of state debt, accounts for significant, broad-based tax relief, and builds on historic state reserves for emergencies. New reporting requirements throughout the budget will safeguard taxpayer dollars and improve accountability, transparency, and oversight of government spending.' Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.
