Florida fiscal year budget expands tax relief

Florida’s new $117.4 billion budget for the 2025–2026 fiscal year focuses on tax relief, debt reduction, and investments in key areas. It includes $2 billion in tax breaks such as sales tax holidays for school supplies, clothing, and electronics, plus the permanent repeal of the business rent tax. The state is also setting aside $830 million to pay down debt and keeping $15.7 billion in reserves. Other highlights include more funding for education, including teacher pay raises and student scholarships, $1.4 billion for environmental projects like Everglades restoration, and over $15 billion for infrastructure improvements. For more information click here.