Thursday, June 10, 2021
Years of fiscally conservative leadership have resulted in the passage of consistently balanced budgets that include healthy reserves to protect the state from potential economic downturns and prioritize eliminating debt that Hoosier taxpayers would ultimately pay.
This continued forethought benefited Hoosiers last year as these "rainy day" reserve funds helped our state weather the COVID-19 pandemic. This session, the Indiana General Assembly passed our next two-year budget that will eliminate $1 billion in taxpayer-funded state debt and pay for a number of projects up front as opposed to paying back bonds at a later date.
The 2022-23 budget also includes a $600 million payment to future teacher pension funds, ensuring we are able to keep the financial promises made to retired teachers.
Additionally, $231 million has been allocated to cash fund the South Shore Line in northwest Indiana and $205 million will be used to pay off bonds for the construction of I-69.
These investments will continue to push Indiana forward and assure that Hoosier taxes are put to good use.
To learn more about the 2022-23 budget, click here.