Watch CBS News

Florida Debt Drops Again

Follow CBSMIAMI.COM: Facebook | Twitter

TALLAHASSEE (CBSMiami/AP) — After an increase last year, Florida's amount of debt has dropped.

An annual report presented to Gov. Rick Scott and members of the Cabinet on Tuesday shows that the state'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.

(TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.