TAMPA, Fla. —  Florida TaxWatch is set to host its spring meeting in Tampa this week at the Westin Waterside on Harbour Island in downtown Tampa.

Three main topics will likely dominate talks Wednesday and Thursday, including the homeowners' insurance crisis, consumer data privacy and a record state budget.

The regular meeting brings together politicians, business leaders and others to discuss the economy, state spending and what lies ahead. Florida TaxWatch is a nonpartisan government watchdog that provides research and analysis on those issues. 


What You Need To Know

  • Florida TaxWatch is set to host its spring meeting in Tampa

  • The meeting brings together politicians, business leaders and others to discuss the economy, state spending

  • Groups will discuss homeowners' insurance, consumer data privacy and a record state budget

On homeowners' insurance, which a special legislative session is scheduled to address later this month, at least five major insurance companies have left the state since the beginning of this year.

That is causing the cost of homeowners' insurance to surge, on top of rapid inflation spreading across the state.

In the cybersecurity sector, Florida TaxWatch said consumer data privacy is now getting more expensive and more aggressive cyberattacks have driven the cost of data breaches up to a 17-year-high for consumers and businesses.

But Florida TaxWatch Executive Vice President Tony Carvajal said it’s the state budget that concerns him the most, up nearly 20% to $112 billion in the past two years alone.

Carvajal said a leaner state budget is easier for consumers to track and would be more recession-proof than a larger budget.

“If somebody sees it goes backward, they are going to think that we are losing ground, but I actually think that is a smart choice,” Carvajal said.  “What are the tough decisions we have to make today so that we are investing in all the right infrastructure, people and natural as well as physical infrastructure, but not spending too much?"

Some experts said they believe the United States is already in a technical recession, although it takes two quarters of negative growth to make a recession official.