Florida Debt Drops Again After Jumping Up Last Year

TALLAHASSEE, Fla. (AP) — Florida’s amount of debt is dropping again after rising last year.

That’s according to an annual report presented Tuesday to Gov. Rick Scott and members of the Cabinet.

The new report shows that Florida’s overall debt stood at $24.1 billion at the end of June. That’s a decrease of $1.6 billion over the previous fiscal year.

Florida’s debt had jumped up in 2015 due primarily to money borrowed to cover the expansion of Interstate 4 in central Florida. But the debt has gone down by $4.1 billion since 2010.

During his time as governor, Scott has also made it a priority to limit borrowing including issuing bonds to pay for school and college construction projects.

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