arge in hiring and real estate values during the pandemic, attracting billionaires like Ken Griffin and Cathie Wood to add Wall Street glamour. Governor Ron DeSantis is hoping this economic surge will boost his chances of winning the White House, despite the fact that many lower-paid workers are struggling to keep up with rising rents and homeownership remains out of reach for many. While DeSantis’s relaxed approach to Covid-19 and cultural conservatism have lured a new crowd to the state, recent economic gains have not been evenly distributed. Nonetheless, Florida’s economy has expanded by about 11% under DeSantis’s leadership, outpacing the growth of California, Texas, and New York.The US economy was pushed into recession in the spring of 2020 due to unique conditions that are unlikely to be repeated or easily reproduced with other policy changes. Governor DeSantis benefited from federal pandemic relief and infrastructure funds, allowing him to increase the state budget by 31% with tax relief. However, lower-paid workers have seen smaller income gains while home prices and rents soar, with Florida having the 37th lowest median wage in the US. Despite this, Florida has the fastest-growing population in the US, with middle-class cities like Ocala experiencing significant growth. Governor DeSantis has made lasting changes that could threaten businesses he previously helped, such as a new law penalizing people who protest during disasters.gs Make White-Collar Fraud Charges Harder
DeSantis’s office didn’t respond to requests for comment.
Recent Supreme Court rulings have made it more difficult to bring white-collar fraud charges in the US. Merck’s profits from cancer drug Keytruda are being cited as a reason for the company’s lawsuit against the US. Total is reviving its $20 billion African gas project as the threat of jihadist attacks fades. Renewable energy projects in the US are being held up by permitting rules, leading to unlikely allies emerging.
In a recent rally, Florida governor Ron DeSantis declared that he could be the one to make the United States as rich as his home state. Although DeSantis’ confidence is strong, the reality is more complicated.
Florida has consistently ranked in the top 10 of the nation’s wealthiest states, according to US Census Bureau data in 2018. It has also consistently been among the states with the highest job growth rate since 2006, and Governor DeSantis has hit the ground running since taking office in 2019. He has made several moves to try and spur economic growth in the state, such as cutting taxes, loosening regulation, and providing incentives to businesses to locate in Florida.
However, despite having one of the healthiest economies in the country, DeSantis’ ambitious goal of replicating Florida’s economic success on a national scale may be easier said than done.
Florida, unlike any other US state, has several unique advantages that have allowed it to thrive economically. It has the benefits of being in close proximity to a handful of huge markets, including the automotive and tourist industries of the southeastern US. It also has a much lower cost of living than most other states, which helps keep labor costs low. Additionally, Florida has some of the lowest taxes in the nation.
Furthermore, the state has managed to weather the effects of the coronavirus pandemic better than most other places. This is largely thanks in part to the low number of cases present in the state, as well as the fact that the state is largely immune to the economic downturn that has harshly affected many other states due to its reliance on tourism.
The strength of the Florida economy is undeniable. However, success on a national scale would require the effort of all 50 states working together, and few have the same set of advantages that Florida has. DeSantis’ enthusiasm is admirable, but the complexities of such a lofty goal should not be underestimated.
