Funding for education, public health expected to dominate 2023 Legislature
Also looking for state support are initiatives related to workforce training, road funding, energy standards and affordable housing.
State Budget
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Lawmakers eye next budget session with $5B in reserves
Republicans, who hold the supermajority, seemed intent on keeping excess spending low, while Democrats urge investing more in education and public health.
Indiana has a $6.1 billion surplus. Will taxpayers get some of it back?
As the Legislature prepares to consider Gov. Eric Holcomb’s proposal to return $1 billion of the surplus to taxpayers, some legislators and business leaders question whether that’s the best use of the windfall.
Indiana finishes fiscal year with more than $6 billion in reserves
The news comes as state lawmakers prepare to consider Gov. Eric Holcomb’s proposal to send $1 billion to taxpayers in the form of $225 refund checks.
Prospects for Indiana tax cuts boosted by governor’s support
Indiana Gov. Eric Holcomb said Wednesday he now believes the state’s individual income tax rate could be cut while maintaining enough state revenue for additional spending needs in the next state budget to be adopted in 2023.
Indiana officials projecting big jump in budget surplus
The State Budget Committee on Thursday projected booming growth in Indiana’s budget surplus, setting up a debate during the upcoming legislative session over possible tax cuts.
Q&A: House budget leader Tim Brown reflects on career, possible parting gift
The Crawfordsville Republican spent the past eight legislative sessions as chairman of the House Ways and Means Committee and suggests he will propose a tax cut for Hoosiers as he departs the legislature in 2022.
Indiana construction projects boom thanks to new budget plan
The new state budget adopted in April by the Republican-controlled General Assembly is awash in federal coronavirus relief money, allowing the state to give sizeable funding to projects that had for years been shelved and left out of spending plans.
Indiana has plan to boost pre-K enrollment without increased state funding
On My Way Pre-K has also been slow to grow in the six years since its start, and enrollment plummeted during the pandemic by 40%. But the state is expecting increased demand.
Indiana lawmakers approve state budget, finish session
Several Democratic legislators called it the best state spending plan in years. Republicans described the plan as focused on helping the state’s economy grow in the coming years and helping to give long-deserved raises to teachers.
Better-than-expected Indiana outlook brings calls for bigger education boost
Indiana educators on Thursday called for a bigger school funding boost to help improve the state’s lagging teacher pay, as new projections showed state tax collections are expected to bounce back stronger than expected from the pandemic recession.
John Thompson: Use federal windfall to develop Indiana strategy of innovation, entrepreneurship
We must enact a plan not just around how to build and encourage industry to adapt and change, but also to maximize Indiana’s ability to compete over the next decade.
Culinary arts, cosmetology programs in jeopardy in Indiana House budget
The funding would instead go to courses in areas that are typically higher paying, such as nursing, biomedical science and welding. But critics say eliminating popular programs would narrow students’ options.
House Republicans opt to invest in one-time grant programs in budget proposal
The $36.3 billion two-year budget proposed by the House GOP on Thursday would make a handful of one-time investments in small businesses, regional projects, student learning loss, health initiatives, broadband and police training.
UPDATE: Holcomb’s budget proposal calls for funding increases for K-12, higher ed
The $35.2 billion budget, which Office of Management Director Cris Johnston and Budget Director Zac Jackson presented to the State Budget Committee on Wednesday morning, also restores the state’s reserve balance to $2.3 billion each year.
State tax revenue outlook better than lawmakers expected, but cuts still possible
According to a revenue forecast presented to the State Budget Committee on Wednesday morning, tax receipts for the state’s general fund—essentially its main checking account—will total $34.95 billion for the next two-year budget, which will start in July.
COVID puts Legislature in fiscal vise in upcoming budget session
Leaders promise K-12 education will be the top priority, but they also acknowledge that every line item in the spending plan is at risk of cuts.
Indiana still has $1 billion in coronavirus relief funds left to spend
Indiana Office of Management and Budget Director Cris Johnston told the State Budget Committee on Tuesday that the state has been waiting for clearer guidance from the federal government on how the dollars can be spent.
State revenue collections show impact of COVID-19 pandemic
Indiana’s monthly revenue report, released Friday, shows that the state is still falling short of the funds that were expected when the forecast was made last December.
State revenue comes in $1.4B less than expected for fiscal year 2020
Lower than expected revenues created a budget deficit of nearly $900 million, but the state still managed to end the year in the black by cutting costs in some areas, tapping into reserves and receiving additional federal dollars for Medicaid.