Governor Rick Scott’s veto pen helped reduce Florida’s debt in back-to-back years for the first time in at least three decades. Lawmakers say it might be time to reverse course.
The cuts are driving bonds of the fourth-biggest state to the best performance in almost a decade. Debt of Florida and its localities has earned 9.2 percent this year, beating the 8.9 percent return for the $3.7 trillion municipal market, Standard & Poor’s data show. Florida also beat the market in 2011, leaving it on a pace to outperform in consecutive years for the first time since 2003.
