With a projected surplus of $3.2 billion dollars in collected revenue this year, the Legislature and the Governor have some serious choices to make.
They could use some of that windfall to offset the rising costs of homeowners insurance needed to bailout Citizens Property Insurance Company, the State sponsored “Insurer of Last Resort”. This move would give all homeowners a real tax break by not requiring Citizens’ to invoke its right to impose a 7% surcharge on all homeowner policyholders across the State when it runs a deficit paying out more in claims than it receives in premiums. Homeowners received that new “tax” surprise when they opened their Homeowners’ bill this past year. It may be too late for homeowners to get a break in 2005 but not too late for 2006.
…And, they could use that money to help implement the class size reduction that the citizens of Florida mandated with a Constitution Amendment.
…And they could bail out school boards that face a deficit like Pinellas County that projects a $20 million dollar shortfall this year after sending more of its citizens’ property tax dollars to Tallahassee than it receives back to run our school system.
…And, they could use a large portion of the money to pay down state debt, now at $22.5 billion. Florida TaxWatch, a fiscal conservative group, estimates we could save as much as $160 million in annual debt service payments.
…And they could use part of the savings from the annual debt service payments to set up a statewide healthcare plan for the indigent similar to the one already successfully in place in Hillsborough County. By covering that portion of the healthcare formula, employers could negotiate better rates from all healthcare providers for those of us under insured plans.
…And, they could make the Save Our Homes protection portable, so your property tax on a new home wouldn’t be much more than that on your previous home.
…And, we could shore up environmental projects like the Everglades restoration.
…And, we could catch up on infrastructure needs, like roads, sewers and water systems.
These are some smart choices that I would not only support but would help craft legislation to include them when I go to Tallahassee this fall.
Everyone knows the time to prepare for “lean” times is during times when there is a surplus. While the State has seen a windfall this year and expects more over the next several years, its citizens are experiencing:
- Soaring health care rates
- Sky-high fuel costs
- Unaffordable homeowner insurance rates
- A loss of available rental housing
- A loss of affordable, average income housing
- …and overcrowded school systems with misguided expectations and under-funded budgets
Let’s put the surplus where the needs are! Let’s help Floridians live better lives!
