Lawmakers urged to take cautious approach with budget

TALLAHASSEE, Fla. – Pointing to issues such as the possibility of a recession and high costs from Hurricane Michael, a top state economist Tuesday urged the House Appropriations Committee to take a cautious approach as lawmakers draw up the 2019-2020 budget.

Amy Baker, coordinator of the Legislature’s Office of Economic and Demographic Research, said the remainder of the current fiscal year looks strong, but that could mask “headwinds” during the fiscal year that will start July 1.

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“We’re in the middle of kind of a very fluid, very volatile time,” Baker told the committee.

Lawmakers are preparing to negotiate a 2019-2020 budget when the annual legislative session starts in March.

Baker and other economists last month increased general-revenue tax projections, which could provide additional money for lawmakers to spend. But if an economic downtown occurs, she said it would probably start after the 2019-2020 fiscal year begins, which means lawmakers should take a cautious approach to spending the increased money.