Has DeSantis paid off ‘most’ of the state debt during his tenure?

Florida Gov. Ron DeSantis has reduced the state’s debt during his term, but it hasn’t disappeared.

Florida’s total direct debt in 2018, the year before DeSantis took office, was $21 billion. By June 2025, that number fell about 30% to $14.6 billion.

GOP gubernatorial candidate Byron Donalds claimed during an Oct. 13 campaign event that under DeSantis’ leadership, “most” of the state debt has been paid off. While its debt has consistently dropped over the years, the numbers don’t back up Donalds’ claim.

Even when looking at total tax-supported debt –– $17.5 billion in 2018 to $10 billion in 2025 –– less than half has been paid off over DeSantis’ tenure.

Florida has a relatively low debt balance for a state of its size, but that doesn’t mean it has “almost no debt” as Donalds claimed.