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Indiana will get $3.3 billion more in current budget cycle, says new forecast

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Brandon Smith
/
IPB News
Rep. Tim Brown (R-Crawfordsville), left, and Sen. Ryan Mishler (R-Bremen), right, are at odds over how to spend increased state dollars during the upcoming legislative session.

Indiana is set to collect an additional $3 billion in the current budget than state fiscal leaders planned for, according to a new revenue forecast unveiled Thursday.

Yet House and Senate Republicans remain at an impasse over how to spend that money in the upcoming legislative session – a non-budget session.

The new forecast projects Indiana will end the next two fiscal years with unprecedented budget reserves – $5.1 billion and $4 billion, respectively.

House Republican fiscal leader Rep. Tim Brown (R-Crawfordsville) said his caucus will push hard in the 2022 session for tax cuts.

"This revenue forecast, I think, supports our position," Brown said. "We look forward to how citizens have worked hard and deserve a break."