February 10th 2025.
In the midst of budget discussions for Florida's upcoming fiscal year, there is conflict brewing between Republican Governor Ron DeSantis and his own party. While DeSantis has proposed a budget of $115.6 billion, it is ultimately up to the Republican-led legislative body to finalize the budget in March during the two-month legislative session.
One of the major points of contention is DeSantis' spending priorities, which have included a controversial proposal to allocate $350 million towards sending migrants to other countries. This proposal was met with resistance from lawmakers, who ultimately passed a bill limiting DeSantis' authority on immigration matters.
As a result, DeSantis is now focused on reducing the state's spending, but interestingly, his own office is projected to receive an $11 million increase. In line with his "Focus on Fiscal Responsibility" budget, DeSantis has proposed eliminating the $2.2 million Black Business Loan Program, which provides much-needed financial assistance to Black business owners who often face challenges accessing traditional loans.
Additionally, the Broadband, Equity Access, and Development Grant Program, which aims to provide equal access to the internet in underserved areas, is also on the chopping block. And the Low Income Home Energy Assistance Program, which assists low-income individuals with their electric bills, is facing a $100 million decrease.
These cuts have sparked criticism from House Minority Leader Fentrice Driskell, who believes DeSantis' budget is more focused on making headlines than helping Florida residents cope with the rising cost of living. In her statement to the Miami Herald, Driskell expressed concern for the impact these cuts will have on the state's Black business community, which has been thriving in recent years.
According to a 2023 LendingTree survey, Miami is the 14th best city for Black businesses in America. This success can be attributed in part to the efforts of organizations like the South Florida Black Chamber of Commerce, which highlights agencies that are willing to work with Black-owned businesses. With the elimination of state funding, the work of these organizations will be even more crucial.
As LendingTree's chief analyst Matt Schulz explained to CBS News, Black applicants are twice as likely to be denied credit or approved for less credit than their white counterparts. This makes the work of organizations like the Black Chamber of Commerce vital in providing support and resources to Black entrepreneurs.
In light of these budget cuts, the impact on the Black community in Florida is concerning, and it remains to be seen how the state will address these issues moving forward.
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