JACKSONVILLE, Fla. — Gov. Ron DeSantis announced this week that Florida has accomplished paying off half of the state’s accumulated debt since 2019. He called it one of the strongest fiscal records in the nation.
“Since I’ve been Governor… we will have paid off 50 percent of [Florida’s debt] just since 2019,” DeSantis declared during his press conference at Jacksonville International Airport. He noted the repayment covers borrowing that dates back to the 1840s.
Additionally, Florida maintains a AAA credit rating with all major agencies. By comparison, “the federal government is double A minus. Some of our local governments are not great either, but we’ve been triple A across the board," Governor DeSantis commented.
The Governor said early repayment benefits taxpayers by avoiding future interest costs.
“We’ve saved a lot of money on interest costs because we’re retiring the debt at a discount,” he said.
State officials say the strategy has allowed Florida to use funds to expand spending on roads, education and environmental projects while still staying on budget.
Florida currently has the lowest per-capita debt of any state.
