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Sink says gov's trust fund raid = tax increase

Chief Financial Officer Alex Sink is joining the chorus of criticism of Gov. Charlie Crist's proposed budget. While she commends him for proposing to increase KidCare by $60 million, she blasts him for raiding the workers compensation trust fund. Her statement, emphasis added:

"While I understand the current challenge to find resources in this year’s budget, I am concerned about
the recommendation to sweep $129.5 million from the Workers’ Compensation Administration Trust Fund.  Through efficient management and reform of the Workers’ Compensation system, our state has been able to reduce Workers’ Compensation Administrative Trust Fund assessments from 2.75 percent to 0.25 percent, which is a 91 percent reduction over an eight-year period.  A trust fund sweep of
this magnitude will require the state to raise Workers’ Compensation assessments—taxes—on Florida businesses as early as January 2009.  I look forward to working with the Governor and the Legislature to prevent assessment increases on Florida’s business owners, many of whom are struggling to balance their own budgets.”

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