CFO Seal in Gold

Big Beer Goes Broke Going Woke

7/21/2023

On Thursday, I issued a statement regarding Governor DeSantis' communication to the State Board of Administration (SBA) requesting an investigation into Anheuser-Busch InBev on how their conduct resulting in a precipitous "decline" may have affected the state's retirement holdings. The failure of Bud Light is going to be taught in business schools for decades. It is a lesson of why companies need to stay out of politics and should never turn their backs on the customer. The Governor's action is 100% the right thing to do. We have to put participants in our retirement system first, and an investigation of Anheuser-Busch InBev's impact to the state's retirement fund is a common sense move. It's almost time to head back to the classroom! That's why I'm urging Floridians to take advantage of the 2023 Back-to-School Sales Tax Holiday, which begins Monday, July 24, 2023, and ends on Sunday. August 6, 2023. Getting ready for the school year can be an expensive time for Floridians, and that is why I want all Florida families to take full advantage of this great sales tax holiday. This tax break will help families ensure their children have all the supplies they need to reach their full academic potential this school year.  

Greeb bubble saying
Lastly, I issued a statement on a recent report from CNBC that ranks Florida as the top economy in the country. This come as no surprise, because of the leadership of Governor DeSantis and the Florida Legislature, our state is a national leader in GDP growth and job growth. We have had a perfect AAA bond rating for 5 years running and, in the past year, we have paid down more than $400 million in debt while maintaining more than $15 billion in reserves. 

 

Sincerely,

Patronis' Signature

Jimmy Patronis
Chief Financial Officer
State of Florida

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