Rep. Eagle Files Bill to Put More Money into State Savings
State Rep. Dane Eagle, R-Cape Coral, is calling for a constitutional amendment proposal that could put more money into the state’s “rainy-day fund.”
When the state legislature agrees on a budget for the coming year, the governor has the authority to strike any specific item from it. Typically, the money for vetoed projects goes back into the state’s General Revenue Fund. That way lawmakers can use it plan for the following year’s budget.
On Nov. 3, Rep. Eagle filed House Joint Resolution 531 which would move that money into the state’s Budget Stabilization Fund. “You can look at it as taking it from your checking account and putting it in your savings account,” said Rep. Eagle. “We think it’s prudent. Its money that could be used to just help stabilize the economy, the budget, the state of Florida in future times.”
Rep. Eagle says, take the recession, for instance.
State lawmakers are looking at another budget surplus in 2016 as the economy grows, but back in 2008 during the recession, they faced a multi-billion dollar deficit.
“Those not-so-great times are inevitably going to happen, said Rep. Eagle. “If there’s a hurricane, another recession, whatever it might be, we need to be prepared for that sort of thing.”