Florida Governor DeSantis opposes Amendment 1 budget reserve increase

Florida Governor Ron DeSantis has expressed opposition to Amendment 1, a proposed constitutional measure backed by the Republican Party of Florida. The amendment seeks to increase the Budget Stabilization Fund cap from 10% to 25% of net general revenue collections.

DeSantis criticized the proposal as a “solution in search of a problem,” arguing that the state already maintains sufficient fiscal reserves. He stated that the mandate would trap taxpayer dollars in government hands rather than providing tax relief or property tax grants.

Other measures on the November ballot include Amendment 2, which also addresses budget stabilization funds, and Amendment 3. Amendment 3 proposes significant changes to the real property tax structure, including increasing the homestead exemption to $150,000 in 2027 and $250,000 in 2028, while lowering the non-homestead assessment cap. Critics of Amendment 3 suggest it could lead to local governments shifting tax burdens to non-ad valorem assessments.