FOR IMMEDIATE RELEASE
Contact: Kellyn Harrison, Press Secretary
Kellyn.Harrison@iga.in.gov
317-232-9498
State Sen. Jeff Raatz (R-Richmond) made the following statement today
regarding the conclusion of the 2023 legislative session:
STATEHOUSE (April 28, 2023) – "The Indiana General Assembly tackled many important issues during the 2023 legislative session, including the passage of a well-balanced budget for 2024-25.
"As a member of the Senate Committee on Appropriations, I played a larger role in crafting the budget this year and am proud to have supported historic funding for K-12 education and cutting taxes for Hoosiers.
"This budget will invest nearly $3 billion in new funding for K-12 education, including $1.5 billion in new tuition support, eliminating textbook fees and increasing the number of families who can utilize school choice.
"Additionally, we allocated $700 million to continue paying down the Pre-1996 Teachers' Retirement Fund and uphold our promises to retired teachers while working toward eliminating a large liability hanging over Hoosier taxpayers' heads.
"At the same time, we worked to save taxpayers a total of $430 million in tax savings over the biennium. This includes an acceleration of the state's planned individual income tax cut. Under the new plan, Indiana's individual income tax rate will drop to 2.9% by 2027 instead of 2029.
"In Indiana, we pride ourselves on being one of the most fiscally responsible states in the nation, and I believe these budget measures are smart investments that will help the state and its residents achieve more financial freedom and continue to set Hoosiers up for a bright future."
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State Sen. Jeff Raatz (R-Richmond) represents Senate District 27, which includes
Henry, Union and Wayne counties, and portions of Franklin County.
Click here to download a high-resolution photo.
Click here for more information on the 2024-2025 state budget.
