Submitted
The State Budget Committee heard testimony Thursday that the state’s revenue is an unprecedented $3.3 billion above forecasts for the current budget cycle. The state will have reserves of $5.1 billion for this fiscal year and $4.1 billion in the next fiscal year.
Senator Fady Qaddoura (D-Indianapolis), a member of the State Budget Committee, released the following response:
Qaddoura
“Thanks to the American Rescue Plan and strong economic growth in our state, Indiana will have additional tax revenue available over the next two years. This is an unprecedented situation and the legislature should respond accordingly by re-opening the budget to address the needs of all Hoosiers.
“We should consider strategic investments that will address chronic issues that have confronted Indiana for decades. The surplus gives Indiana a unique opportunity to fully fund public schools and Pre-K, attract and retain teachers, enact targeted tax cuts to make the tax system fairer for all Hoosier families, eliminate childcare deserts, send more financial resources to cities to enhance public safety and reduce violent crimes, and increase funding for mental health services.
“As a fiscally responsible leader and a finance expert, I firmly support state-balanced budgets, healthy reserves, and a responsible spending plan. Given Indiana’s unprecedented fiscal position, this is the time to invest these funds strategically to address critical needs for all Hoosiers.”
State Sen. Qaddoura represents Indiana Senate District 30, which encompasses parts of Hamilton and Marion counties. For more information on Sen. Qaddoura, his legislative agenda or other State Senate business, call 1-800-382-9467 or visit IN.gov/s30.