Florida governor's budget will sting schools: Moody's

Reuters News
Posted: Mar 21, 2011 3:19 PM

MIAMI (Reuters) - Florida Governor Rick Scott's budget proposals calling for sweeping corporate and property tax cuts is a credit negative for school districts in America's fourth most populous state, Moody's Investors Service said on Thursday.

"The plan incorporates expenditure savings in most of the state's major policy areas, but school districts statewide would feel the largest burden because of local property tax reductions and the loss of federal stimulus education funds," Moody's said in a written comment.

(Reporting by Michael Connor)