Florida TaxWatch Analysis Shows $8.3 Billion in COVID-19 Disaster Relief for Florida

An analysis completed by Florida TaxWatch (FTW) has shown that the “Coronavirus Aid, Relief, and Economic Security (CARES) Act” (H.R. 748), which today passed the U.S. House of Representatives and is set for President Donald Trump’s approval, will provide more than $8 billion in federal aid to Florida, including up to $3.7 billion for local governments, as the state responds to the devastating economic impacts of COVID-19.

Along with this funding, Governor DeSantis requested a Federal Major Disaster Declaration, which was approved, in part, by President Trump this week.

With the new federal aid, as well as $3.8 billion in state reserves, the state appears to be in good shape for COVID-related costs; however, if the expected drop in Florida tax revenue occurs, the state will still be short of paying for other costs that the federal bill will not cover.

You can read the full report HERE.