In Florida, $14 billion in funding has been announced, with nearly 400 specific infrastructure projects identified for funding. Over $10 billion will go to transit upgrades, and another $800 million for clean water and water infrastructure.
In Sept. 2020, the median home sale price in Florida was $292,300. As of Sept. 2023, that figure had risen to $402,900, a nearly 38% increase, according to Redfin. Renters are also paying more in the state. Since 2020, Florida’s average rent has increased by nearly 46%, from $1,460 in March 2020 to $2,128 in March 2023.
“[These] charges are taking real money out of the pockets of American families. These junk fees can add up to hundreds of dollars, weighing down family budgets, making it harder to pay family bills,” President Biden said on Wednesday.
This round of debt relief will eliminate the debt of 125,000 borrowers nationwide: 22,000 with disabilities, 51,000 through an income-driven repayment plan, and 53,000 through the Public Service Loan Forgiveness program.