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State Budget Outlook: Restoration or Retrenchment in Recovery?

The key question in the aftermath of the recession is whether the recovery will restore funding lost for vital services. In her June 2012 analysis, Senior Fellow Elizabeth McNichol emphasizes that Florida's leadership recognizes education funding as critical for both short-term job growth and long-term economic success. However, looming federal budget cuts and fiscal challenges pose significant threats. The timeline of upcoming fiscal events, including tax cuts expiry and potential sequestration, necessitates immediate attention to ensure a sustainable recovery.

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State Budget Outlook: Restoration or Retrenchment in Recovery?

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  1. The State Budget Outlook Elizabeth McNichol Senior Fellow, State Fiscal Policy mcnichol@cbpp.org June 5, 2012

  2. The big questionIf the recession caused a loss of funding for services,will recovery cause a restoration?

  3. Looking Ahead

  4. Restoration or Retrenchment?

  5. Florida Governor Rick Scott2012 State of the State Address Rhetoric and Reality“Floridians truly believe that support for education is the most significant thing we can do to ensure both short-term job growth and long-term economic prosperity for our state.”

  6. Federal Budget Cuts On The Horizon (in 2013)

  7. Timing Is Everything • October: new fiscal year begins; short extension likely • Late 2012: need to raise debt limit • December 2012: tax cuts expire • January 2013: sequestration hits cbpp.org

  8. The State Budget Outlook Elizabeth McNichol Senior Fellow, State Fiscal Policy mcnichol@cbpp.org June 5, 2012

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