MARCO ISLAND, Fla. – In a news conference Tuesday morning at a charter school in Southwest Florida, Gov. Ron DeSantis unveiled his plan for the upcoming budget proposal.
The “Focus on Florida’s Future Budget” totals $114.4 billion, more than $4.6 billion less than the current year’s budget, with $16.3 billion in reserves, the governor’s office said. DeSantis also pointed out that 25% of the state’s debt has been paid off, with the state debt currently at somewhere between $15 billion and $16 billion.
“We’ve done it right and we’re going to continue to do it right with this upcoming fiscal year budget,” DeSantis said. “Even with an overall reduction in spending, we’re going to be making key investments in things that really matter like education and infrastructure and transportation.”
During the news conference, DeSantis touted six tax holidays planned for the 2024-2025 fiscal year, which are part of more than $1.1 billion in tax relief.
The sales tax holidays are:
- Two Back-to-School sales tax holidays, one in the fall and one in the spring, are expected to save Florida families $169 million on school supplies, clothing and computers.
- Two Disaster Preparedness sales tax holidays are expected to save Floridians $49 million on supplies needed during disasters.
- A three-month Freedom Summer sales tax holiday, saving Florida families more than $241 million on outdoor recreation items to entertain the kids during the summer.
- A 7-day Tool Time sales tax holiday, saving skilled workers more than $16 million on tools they need for work.
There’s also a new tax relief initiative planned to reduce the cost of homeowners insurance for housing valued at up to $750,000. The initiative includes a one-year exemption on taxes, fees and assessments for Homeowners Insurance Policies and a permanent exemption on Flood Insurance Policies.
WATCH: You can watch the full news conference below. NOTE: The start of the news conference was delayed 34 minutes, and we had technical difficulties with sound. Sound begins at 37:05.
DeSantis also highlighted a permanent sales tax exemption on over-the-counter pet medications, a tax credit for businesses that employ Floridians with unique abilities and an increase of the sales tax collection allowance to save small businesses $165 million.
The budget proposal also provides a historic $27.8 billion in funding for the K-12 public school system, which includes the highest investment ever at $8,842 per student.
Other highlights from the education budget include:
- $1.25 billion to provide salary increases for teachers and other instructional personnel, an increase of $200.6 million over FY 2023-2024.
- $1.6 billion for early childhood education, including $450 million for voluntary pre-kindergarten programs.
- $290 million for the Safe Schools Initiatives, an increase of $40 million over FY 2023-2024.
- $52.8 million to support civics engagement programs, including $45 million for the Florida Civics Seal of Excellence Program.
“Success is not something that is handed to a state as large as Florida,” DeSantis said. “It requires a steadfast commitment to supporting families at every step.”
DeSantis also announced plans for the state to earmark $1 million to fight a legal battle regarding FSU being excluded from the College Football Playoffs despite being undefeated this past season.
“Now, I don’t know what all goes into that decision-making. I know a lot of people have been disappointed,” DeSantis said. “What we decided to do is set aside a million dollars for any litigation expenses that may come from this very poor decision from these College Football Playoffs.”
The governor also shared plans for spending on Florida’s transportation network and infrastructure, higher education, law enforcement and military, natural resources, and the health of Floridians.
To read the full budget highlights, click HERE.