The State Budget Committee on Thursday received the updated revenue forecast that adds nearly $370 million to Fiscal Year 2023, and $1.24 billion to FY24-25, bringing Indiana’s structural surplus to $2.5 billion and total combined balances to nearly $4.8 billion by the end of State Fiscal Year (SFY) 2023.
State Senator Fady Qaddoura (D-Indianapolis) issued the following statement about the state’s fiscal position:
Qaddoura
“Today’s budget forecast indicated that inflation is slowing, the recession risk is significantly reduced, and Indiana’s combined balances for SFY 2023 are estimated at nearly $5 billion. Given Indiana’s poor rankings on many quality-of-life metrics including education, public health, maternal and infant health, and early childhood education, we can’t afford to not invest in the future of Hoosier families by funding critical priorities to address Indiana’s chronic and declining performance on these critical measures. The cost of either delayed or continued underfunding will further expedite the deterioration of Indiana’s performance and the quality of life for Hoosiers.
“I have a different vision. We have the resources to fund universal Pre-K across the state, significantly boost K-12 funding, increase investments in higher education and career training, and address Indiana’s poor public, mental and maternal health outcomes. It is time for bold leadership that will address the issues facing Hoosiers.”
Sen. Qaddoura represents Indiana Senate District 30 encompasses parts of Hamilton County and Marion County. Marion County communities include Washington and Lawrence townships. For more information on Sen. Qaddoura, his legislative agenda, or other State Senate business, call 1-800-382-9467 or visit IN.gov/s30.