Florida Governor DeSantis opposes GOP reserve fund amendment

Florida Governor Ron DeSantis has expressed opposition to Amendment 1, a Republican-backed proposal that would increase the state budget stabilization fund cap from 10% to 25% of the previous year’s general fund revenue. DeSantis described the measure as “foolish,” arguing that the state already maintains a maximum rainy day fund and large surpluses. He suggested that additional revenue should instead be directed toward lower taxes and local government grants.

Separately, Florida voters will consider Amendment 3 in November, a measure aimed at eliminating certain non-school property taxes. If passed, the amendment would increase the state’s homestead exemption to $250,000 by 2028 and lower the annual assessment increase cap from 10% to 5%.

The Florida Policy Institute has released a calculator to estimate the impact of Amendment 3, noting that the proposal could cost local governments an estimated $13.7 billion in the first two years. Critics warn the measure could weaken funding for essential services such as hospitals, libraries, and fire rescue departments.