Amendment 4's Impact on Our Economy
Study: "Amendment 4's passage will have potentially devastating consequences..."
A comprehensive economic report on Amendment 4 indicates that this measure will mean fewer jobs and higher costs for all of Florida's working families. "An estimated 267,247 high-wage jobs for Florida residents are at risk directly or indirectly from the potential adverse impacts associated with the passage of Amendment 4…" writes Professor Tony Villamil, Dean of the School of Business at St. Thomas University and lead economist for The Washington Economics Group (WEG), which conducted the study.
Amendment 4 will impact “the whole economy of Florida,” says WEG. The study goes on to indicate that, under Amendment 4, “Florida’s economic dynamism is lost. [Amendment 4] would permanently impact the economic growth potential for Florida, causing a steady decline in the standard of living of all Florida residents. Further, permanently impacting employment and growth within major industries and job-generating activities.
Ultimately, Amendment 4 would “force local and state governments to either raise taxes or cut services. Public schools, public safety and local health care services would suffer from both the direct impact of Amendment 4 (delay construction until the next election) and the indirect impact of fewer tax revenues from which to fund needed operations and capital investments.”
The study goes on to conclude that “Amendment 4’s passage will have potentially devastating consequences to Florida’s economy at a time when the economic situation at both the state and national levels is uncertain and at a time when attracting new businesses to Florida is essential for the future recovery and prosperity of the state and its residents.”
Read the Economic Study for more details.
