INDIANAPOLIS (AP) — Indiana’s state tax collections are expected to bounce back even stronger than expected from the pandemic recession.
A new state tax revenue forecast given Thursday to state legislators projects those collections going up by more than 4% in each of the next two years. That could mean about $2 billion more available for the new two-year state budget being finalized by legislative negotiators.
Republican budget writers will likely face pressure to further increase school funding. The latest budget proposal endorsed by the Senate this week would increase overall school funding by 1.2% the first year and about 3% the second year,