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Florida expects $5.4B revenue shortfall over next 2 years
Read full article: Florida expects $5.4B revenue shortfall over next 2 yearsThat includes a $3.4 billion shortfall for the fiscal year that began July 1 and $2 billion for the following fiscal year. “Unfortunately, the tourism industry — everything from lodging to airplanes to cruises, the whole tourism industry — is going to be the slowest improving sector that we have and it will take the longest,” she said. “The Great Recession impact on state revenues was over a longer period of time and it took a while to build into the negative. That could include cuts, finding new sources of revenue or dipping into the Florida's $3.9 billion in reserves. “The situation that we’ve been dealing with the state and the budget is really unprecedented in modern times in the state of Florida.