Wednesday, February 1, 2023
Strong fiscally conservative leadership at the Statehouse consistently results in Indiana ranking among the most fiscally responsible, affordable, lowest-taxed and financially sound states in the nation.
To maintain this track record, Senate Republicans have been aggressively paying down the Pre-1996 Teachers' Retirement Fund, which, when fully funded, will free up $2 billion in the state's biennial budget.
In 2011, the estimated payoff date was beyond 2060, but with recent targeted and aggressive additional contributions, we are now looking at 2031 or perhaps sooner. This allows us to start exploring tax cuts now, rather than in 30 years.
The state's advantageous financial standing is a result of Statehouse Republicans' commitment to passing balanced budgets and working within our means. Senate Republicans continue to advocate for aggressive pay-downs of our pension obligations and look for more ways to improve our state's financial standing to make Indiana an even greater place to live, work and raise a family.