The next Indiana state budget dominated a legislative preview by the Indiana Chamber of Commerce in Indianapolis today. The Indiana Fiscal Policy Institute forecasts the state will have about thirteen and a half billion dollars of revenue… but up to fourteen and a half billion dollars of obligatory expenses. State legislators will need to make up the difference… but Governor Mitch Daniels and Indiana Republican Brian Bosma – the next Speaker of the Indiana House – have pledged not to raise taxes. Bosma says he wants to protect K through 12 education funding… but everything else is under scrutiny.
The current state budget includes a billion dollars of state reserves… plus more than two and a half billion dollars in federal stimulus money.
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