New Florida Legislative Leaders Focus on Affordability

The newly elected Republican leaders of the Florida Legislature, Senate President Ben Albritton and House Speaker Danny Perez, have taken a populist stance by criticizing insurance companies and private equity firms amid concerns over the state's affordability crisis. During their first organizational session, both leaders emphasized the need to hold insurers accountable for timely claims, expressing frustration over rising rates and previous legislative reforms perceived as beneficial to the insurance industry. Perez announced intentions to implement budget cuts and reduce funding for local projects, marking a shift from previous spending practices. The 2024 budget stands at $116.5 billion, reflecting nearly $1 billion in vetoes by Governor DeSantis and a $2 billion decrease from the prior year. Democratic legislators praised the new leadership's tougher rhetoric on insurance accountability, a notable change in the Republican-dominated legislature's approach. As they prepare for the upcoming session, key issues like skyrocketing insurance costs and affordable housing will be at the forefront of their agenda.