Florida lawmakers agree on trimmed budget

Published: Sunday, January 11, 2009 at 2:14 p.m.
Last Modified: Sunday, January 11, 2009 at 2:14 p.m.

TALLAHASSEE, Fla. Florida lawmakers have finalized a plan to plug the state's $2.3 billion budget hole by taking more than half of the money the state has in last-resort reserves and up to $700 million the state has from a settlement with the tobacco industry.

Both details had been sticking points in House and Senate negotiations at the state Capital. Lawmakers on Sunday agreed to take $400 million from reserves, leaving the state with about $250 million.

Florida's economic decline and the national recession forced lawmakers into special session to make budget cuts. The downturn left the state unable to pay for the $66.3 billion budget lawmakers had planned. The revised budget must now be passed by both chambers. A vote could happen as soon as Wednesday.

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