Cuts could be coming for the state's higher education system.
During a meeting of the Florida Senate's Appropriations Committee on Higher Education Wednesday, Chair Gayle Harrell said that budget difficulties will likely lead to cuts.
"Given the flat funding that we have in the state of Florida in anticipated revenues, and perhaps the declining revenues in the next two years. As we look at our economy and where we're going, there's going to be some tough decisions having to be made, Senators," she said.
Following years of budget surpluses, Florida is projected to run into a few years of deficits after the 2026-2027 fiscal year.
The state is projected to have an almost $4 billion surplus over the next fiscal year, but then face deficits of over a billion and almost $7 billion in the following two years.
Revenue forecasters say that's a result of several factors, including COVID-19-era federal funding expiring, sales tax revenue decreasing after tourism and sales spiked following the pandemic, and increased spending on state programs like Medicaid and school vouchers.
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