May 7, 2021
Peter Moore, P.E., F.ASCE, ENV SP, LEED AP
President, Chen Moore and Associates
Last week: This past week, the Federal Treasury said it expects to borrow $463 billion in the current April-June quarter, which will be part of its plans to borrow $2.28 trillion for the full budget year, which ends September 30. The $463 billion represents a significant jump from the government’s initial estimate three months ago that it would need to borrow just $95 billion in the current quarter. The government ran up a record $3.1 trillion budget deficit last year, reflecting the COVID relief spending and a drop in revenues caused by the recession. We need to stop reckless spending.
Looking ahead: Last year, the Legislature’s Office of Program Policy Analysis and Government Accountability (OPPAGA) created a task force on local government efficiency. The task force has effectively finalized its recommendations to streamline government processes. The Local Government Efficiency Task Force, established by the Legislature last year, is set to hand its final report to Gov. Ron DeSantis, Senate President Wilton Simpson and House Speaker Chris Sprowls by June 1. The report includes recommendations on elections, public meetings, reporting, pension plans, unfunded mandates and business taxes. The question comes down to whether or not these recommendations will make next year’s legislative agenda.