Connect with us

Hi, what are you looking for?

Business / Economy News

Ron DeSantis Announces Early Payoff of $400 Million of State Debt

This week, Gov. Ron DeSantis announced the early paydown of $400 million of the state’s debt through the Debt Reduction Program, which was championed by the governor in his budget.

The program serves to reduce state debt by accelerating the payoff of bonds prior to maturity, avoiding subsequent interest costs. The early payoff announced will save Florida taxpayers nearly $34 million.

“While Washington has governed irresponsibly and ballooned the national debt, the Free State of Florida is providing a blueprint for fiscal responsibility,” said DeSantis. “We put Floridians front and center in every decision we make and are proud to continue saving them money through smart fiscal policy.”

“Governor DeSantis championed the debt reduction program through the legislative process, and the Division is proud to have delivered on his vision, resulting in an expedited reduction in state debt at a savings to taxpayers,” said Division of Bond Finance Director Ben Watkins. “I look forward to working with the Governor to explore additional opportunities to leverage Florida’s solid financial footing and further reduce the state’s financial obligations.”

<

Florida has now paid down approximately $5 billion in state debt since DeSantis took office, with additional payoffs expected over the fiscal year. During this same timeframe, the national debt has increased by more than $10 trillion as a result of excessive spending.

The Framework for Freedom Budget established the Debt Reduction Program within the Division of Bond Finance. The Division completed two transactions over the past week to support the retirement of outstanding taxable Public Education Capital Outlay (PECO) and State Revolving Fund (SRF) bonds. The transactions were effectuated by utilizing the $200 million in appropriated funds, along with additional available funding, to pay down $400 million in state debt prior to maturity, generating nearly $34 million in savings to taxpayers.

Author

  • Florida Daily offers news, insights and analysis as we cover the most important issues in the state, from education, to business and politics.

    View all posts

Archives

Related Articles

Trending News

Governor Ron DeSantis announced more than $14.5 million through the Florida Job Growth Grant Fund (JGGF) to support infrastructure improvements and workforce training across...

Florida Government & Politics

TALLAHASSEE — Despite strong opposition from Governor Ron DeSantis, the Florida House approved a bill on Wednesday aimed at diminishing the governor’s power in...

Florida Government & Politics

Florida TaxWatch has been monitoring the latest tax relief proposals working their way through the 2025 Florida Legislature.Property Taxes or Sales Tax?The House Ways...

Business / Economy News

Tallahassee, FL — Florida has reached a new milestone in domestic tourism, capturing a record 15.5% share of the U.S. vacation market in 2024, according...

Advertisement
Florida Daily
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

HOW WE COLLECT E-MAIL INFORMATION:

If you sign up to subscribe to Florida Daily’s e-mail newsletter, you will provide us your e-mail address and name, voluntarily, and we will never obtain any of your contact information that you don’t voluntarily provide.

HOW WE USE AN E-MAIL ADDRESS IF YOU VOLUNTARILY PROVIDE IT TO US:

If you voluntarily provide us with your name and email address, we will use it to send you one email update per weekday. Your email address will not be given to any third parties.

YOUR CONTROLS:

You will have the option to unsubscribe to our E-mail update at anytime by clicking an unsubscribe link that will be provided in each E-Mail we send.