Florida House Budget Cuts May Affect Retired Workers

Florida's House Lawmakers managed to forge a balanced budget, but the new plan is not without its share of objections. The plan relies on stimulus dollars, a tuition hike, and trust fund raids to make up for $3-billion in lost revenue.

Legislation to cut retirement benefits and save the state $200-million was first defeated, when 15 Republicans stood with the House Democrats to vote down the measure. However, after a short break, the House reconvened and used legislative rules to jam the bill through. If the Senate agrees to the cut, thousands of retired state workers will have to rework their retirement plans.

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