Florida Posts $21.8 Billion Budget Surplus, a State Record

Florida posted a $21.8 billion surplus in the fiscal year that ended June 30, the highest in state history.

Buoyed by strong tax collections that have far outpaced expectations, the state’s general revenue collections had increased about 24% from the prior year through May, according to Florida’s Office of Economic & Demographic Research. Preliminary estimates for June collections are about $950 million above expectations, Governor Ron DeSantis said in statement Thursday.

Ron DeSantis, governor of Florida, speaks during the Conservative Political Action Conference in Orlando, Florida, on Feb. 24, 2022.

Photographer: Tristan Wheelock/Bloomberg

DeSantis, a Republican, touted the state’s decision to remain largely open during the coronavirus pandemic as a driver for the strong tax collections.

“Our responsible policies have allowed ...