Sen. Ashley Moody Says Florida's $1.8 Trillion Economy Came From Low Taxes and Restraint, and Calls It a Template for Washington
The Florida senator credits no state income tax, deregulation and fiscal restraint. Fox Business also notes home prices rose about 50% from 2020 to 2024, squeezing service workers and first responders.
Sen. Ashley Moody, R-Fla., told Fox News Digital in Miami that Florida's economic rise was a choice, not luck, Fox Business reports.
The size of it. The Florida Chamber of Commerce says the state's economy has reached $1.8 trillion after growing 6.3% over the past year, which would rank it 14th among the world's economies and ahead of Australia and Mexico. It would need about 2% more growth to pass South Korea and about 21% more to pass Canada. The Chamber credits lower taxes, lighter regulation and free enterprise.
Moody's case. She helped shape the approach as state attorney general, working with Gov. Ron DeSantis from 2019 to 2025. She says Florida pushed back when "government, during a crisis, [was] taking more power," and that the state led by protecting people's rights and safety. "You can replicate Florida's success story, not only in Congress in the United States, you can replicate this in other states," she said. Her formula: keep government to its core functions, which she describes as protecting people and their rights.
The people. Florida gained nearly 600,000 residents from migration alone in 2022, about 1,640 a day, per University of Florida figures cited by Fox Business. From April 2020 through July 2025 it added more than 1.9 million residents, second only to Texas, according to the Census Bureau.
The cost. Fox Business also reports the boom has strained working-class budgets. Median single-family home prices in Florida rose about 50% between 2020 and 2024, according to Census Bureau and Florida REALTORS data, a hurdle for service workers, first responders and native Floridians. Moody acknowledged the influx brings challenges and said the state must keep up on roads, schools and protecting the environment.
Note for readers: the growth and ranking figures come from the Florida Chamber, an advocate for the state's business climate. Moody's comparison to other states is her own argument. Fox Business does not say how much of the housing increase is due to state policy.