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Crist proposes cuts, sweeps to make up $2.3 billion gap
December 23, 2008 by Matthew Nye
Governor Charlie Crist
Gov. Charlie Crist has proposed spending cuts, sweeping trust funds for extra money, using Seminole gambling money and borrowing to build prisons to meet a projected $2.3 billion shortfall in the state’s spending plan.
The Legislature is set to meet in special session starting Jan. 5 to fix the budget. An economy in recession and a burst housing bubble has continued to drain tax revenue.
Crist’s proposal, released this afternoon, includes $561.5 million in spending cuts.
It pulls extra money from a variety of sources. The biggest is $600 million from the Lawton Chiles Endowment Trust Fund, set up with a portion of proceeds from the state’s settlement in tobacco litigation.
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