TALLAHASSEE, Fla. — Before wrapping up Monday, Florida lawmakers made a major budget move—approving a $750 million deposit into the state’s rainy-day fund.
They also took the first steps toward making that contribution an annual requirement by proposing a constitutional amendment for voters to decide in 2026.
It’s a move driven by what some leaders call responsible foresight in the face of economic uncertainty, hurricane threats, and possible federal funding shortfalls. But it’s also one that’s stirring some debate across party lines.
As the session wound down, lawmakers passed the measure with Republican leadership calling it a step toward long-term stability.
“The votes we take today will help ensure the fiscal health of our state far into its future…” said Florida House Speaker Danny Perez (R-Miami) on the floor.
If 60% of voters approve the amendment in November 2026, Florida would begin depositing $750 million into the Budget Stabilization Fund every year beginning in 2027.
But what’s behind the push? Senate President Ben Albritton (R-Bartow) and Speaker Perez say it's about protecting the state—though they’ve stopped short of tying the move directly to the national economy under President Donald Trump.
“What is this Republican supermajority legislature saying about the President Trump economy right now? Is it going south and going to stay south,” asked USA Today Reporter John Kennedy on Monday.
State
Florida's $115B budget puts millions in reserves
“Well, if you can predict that,” said Albritton, “you're better off than I am, and you're a smarter man than me.”
Perez framed it as a decision that will benefit future lawmakers—not necessarily immediately.
“Five, 10, and 15 and 20 years when the Budget Stabilization Fund is finally full, if there is a recession, that legislature will thank this body for the hard decision that they made today,” Perez said. “To save money that could have very easily been spent on a bunch of pork, but instead, we saved it for the future of Florida.”
While national polling shows former President Trump underwater on his trade and tariff policies, Florida’s own economic snapshot looks stable—for now.
“At this point, we don't really see many signs of concern with Florida's economy, right?” said James Heckman, chief of the Commerce Workforce Bureau. “We're seeing a 3.7% unemployment rate that didn't change this month. That is a very low unemployment rate by historical standards…”
Still, the state’s financial prudence is being challenged by Democrats who say more pressing needs are being ignored.
“I think that before you can tout having this expansive and massive rainy-day fund, you actually have to take care of the issues and the challenges that you're facing today, and that is a failure of this budget,” said House Minority Leader Fentrice Driskell (D-Tampa).
The rainy-day fund already sits above $4 billion and hasn’t been touched since the 2008 housing crisis.
Senate Minority Leader Lori Berman echoed concerns that locking away even more cash would come at the expense of current priorities.
“So that means that those dollars can't be used for critical needs, for things like increasing teacher salary. We're 50th in the nation on that. It can't be used for health care. It can't be used for getting people off the list for persons with disabilities.”
The decision now shifts to voters, who will determine next year whether Florida keeps saving or redirects funds to current needs. The choice is up to Floridians in November 2026.
