States should improve fiscal planning to promote healthy economies in the long term, help struggling families, and ensure sufficient revenue is in place to make needed investments that will help grow jobs. This prescription comes from a new report, A Fiscal Policy Agenda for Stronger State Economies out today from the Center on Budget and Policy Priorities. The report comes as many state legislatures are mid-session. Florida’s legislative session concluded in March, but adopting policies offered in the report will strengthen Florida’s economy in coming years.
Florida would be especially wise to take note of some of the report’s specific policy recommendations, like strengthening education, investing in infrastructure, expanding Medicaid (see our fact sheets about Medicaid expansion); and enacting a state level Earned Income Tax Credit.
To grow a healthy economy in Florida, we should also consider what it really takes to support entrepreneurs, who are the major drivers of job growth, instead of spending a majority of time and money to recruit companies to move to the state. Florida’s legislature has already fallen in line with one suggestion of the report, by minimizing costly corporate tax cuts that do little, if anything, to spur economic growth. Hardworking taxpayers deserve a tax code that respects the effort they make by providing things like roads, schools, and other services necessary for a healthy economy.