DeSantis touts reduced state debt; Democrats eye rising homeowner debt

PASCO COUNTY, Fla. (WFLA) – Before a news conference at a Land O’Lakes state-run, long-term care facility Thursday, Gov. Ron DeSantis posted a video on X, formally known as Twitter, discussing his efforts at reducing the state’s debt.

“Our budget continues our efforts to retire ever increasing amounts of our state’s debt,” DeSantis said.

The governor has been discussing his efforts about reducing debt for years. Recently, he signed a state budget that included an additional $500 million to further reduce money the state owes.

Within 30 minutes of the governor’s X post, he appeared for that news conference about helping veterans. But he also spoke about reducing debt before signing two bills.

“That $500 million will let us do even more,” he said.

He received an applause from the crowd over his efforts.

“We’ve retired 36% of the taxpayer-supported debt,” the governor said.

State Democratic Party Chair, Nikki Fried, believes the governor’s focus is too much on debt and not enough on struggling homeowners. There’s growing concern after Tampa Electric, Duke Energy, and Citizens Property Insurance, the insurer of last resort, requested rate hikes.

“Ron DeSantis has passed a near-record budget that doesn’t come close to meeting the needs of Floridians,” Fried said. “Fix our property insurance crisis instead of taking victory laps on debt reduction when average Floridians can’t afford to live here anymore.”

When government entities reduce debt, it helps improve credit ratings or keep a good rating. That in turn means lower interest rates when paying back borrowed money or bonds that were issued.

The governor said that means more taxpayer money stays in the state, instead of going to lenders.

The governor was then asked about what’s being done to help homeowners now, especially during concerns about rate increases. He responded with measures he has recently taken and upcoming initiatives to help save taxpayers money.

“That budget that spent less than last year’s reducing debt, we did $1.5 billion in tax relief all geared directly to help Floridians who are struggling with the ‘Bidenflation’,” the governor said.

He also mentioned efforts like no sales tax holidays for storm preparedness and back-to-school shopping. He also specifically mentioned his efforts at saving money for drivers through a state 2024 toll relief program.

The new state budget goes into effect July 1.

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