Florida Finalizes $2.25 Billion Tax Relief Package

Florida lawmakers have reached a tentative agreement on a $2.25 billion tax relief package, ending a budget stalemate and setting up a final vote by June 16. The deal eliminates the business rent tax, introduces permanent sales tax exemptions for families, allocates $250 million for debt reduction, and proposes annual $750 million transfers to strengthen the state's rainy day fund, pending a constitutional amendment. The agreement aims to reduce state spending, bureaucracy, and improve government accountability. Conference committees will finalize budget details, and Governor DeSantis will have a two-week period for line-item vetoes before the fiscal year begins July 1. Meanwhile, Illinois passed a $55.2 billion balanced budget with a $1.1 billion tax package focused on fiscal responsibility. Connecticut lawmakers also secured a two-year budget deal targeting energy cost reductions and increased childcare support.