Governor Ron DeSantis signs budget for fiscal year 2024-2025 focusing on key investments and tax relief

Tallahassee, Florida – Governor Ron DeSantis has signed the ‘Focus on Florida’s Future’ Budget for Fiscal Year 2024-2025. The new budget totals $116.5 billion, reflecting a reduction in overall state spending compared to the previous fiscal year. Despite the budget cuts, significant investments are made in key areas such as tax relief, education, law and order, disaster preparedness, and environmental conservation. This budget will also leave $17 billion in reserves, ensuring financial stability for Florida.

Major Financial Relief for Floridians

Governor DeSantis highlighted that the budget provides substantial tax relief for Florida’s residents. Over $1.5 billion in tax cuts are included, along with $450 million dedicated to toll relief for frequent commuters using SunPass. Homeowners will benefit from a one-year exemption on taxes, fees, and assessments for insurance policies, saving them $502 million. Businesses that employ Floridians with unique abilities will also see $5 million annually in tax credits over the next three years.

Support for Education and Workforce Development

Education continues to be a priority, with Florida ranked as the number one state in overall education for two consecutive years. The budget allocates $1.25 billion for teacher salary increases, $1.7 billion for early child education, and a historic $28.4 billion for the K-12 public school system. Additionally, it includes funding for various programs aimed at enhancing civic literacy and providing bonuses to teachers who pursue further certifications in computer science.

Higher education also receives robust support, with $1.7 billion for the Florida College System and $4.1 billion for the State University System. The budget allocates $100 million to recruit and retain highly qualified faculty and $130 million for nursing education programs. Furthermore, $765 million is designated for workforce education programs, ensuring students are prepared for high-demand, high-wage jobs.

Enhanced Support for Health and Human Services

The budget underscores Florida’s commitment to health and human services, with over $232 million allocated for cancer research and innovation. Significant funds are dedicated to supporting pregnant women, new mothers, and children, with $456.5 million allocated to enhance prenatal and postnatal care and expand pediatric healthcare services.

Behavioral health services receive more than $442 million to improve access and expand the workforce. Additionally, $93.2 million supports individuals in the child welfare system, while nearly $10 million expands adoption incentives. Seniors and their caregivers will benefit from nearly $70 million dedicated to Alzheimer’s and other memory disorders, along with $115 million for community care programs.

Investment in Florida’s Economy and Infrastructure

Florida’s rapid growth and thriving economy are further supported by the budget’s $15.5 billion allocation for the Florida Department of Transportation. This includes $14.5 billion for constructing and maintaining the state’s transportation network and $109.6 million for ports, logistics centers, and fuel pipelines.

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To support job creation and business development, the budget invests $75 million in the Job Growth Grant Fund, $80 million in VISIT FLORIDA marketing efforts, and $175.2 million in the State Small Business Credit Initiative. Rural communities will benefit from $20 million for local infrastructure projects and $100 million to expand broadband internet access.

Conservation and Disaster Preparedness

Environmental conservation is a significant focus, with more than $1.5 billion allocated for Everglades restoration and water resource protection. This includes $550 million for the Comprehensive Everglades Restoration Plan and $86.7 million for the Northern Everglades and Estuaries Protection Program.

The budget also provides $535 million for targeted water quality improvements and $55 million for restoring Florida’s springs. Additionally, $40 million is allocated to combat harmful algal blooms, including blue-green algae and red tide.

To ensure Florida remains prepared for disasters, the budget includes $1.2 billion in state and federal funding for disaster recovery and mitigation. This funding aims to help Floridians quickly recover from disasters and prepare for future emergencies.

Governor DeSantis’ ‘Focus on Florida’s Future’ Budget reflects a strategic approach to maintaining financial stability while investing in critical areas such as education, health, and infrastructure. The budget not only provides substantial tax relief and economic support but also ensures the protection and conservation of Florida’s natural resources, underscoring the state’s commitment to enhancing the quality of life for all its residents.