Thursday, January 10, 2013

Governor-Elect to Submit First Budget Tuesday

From the Indianapolis Star:

Gov.-elect Mike Pence's team will submit his two-year budget to the State Budget Committee at 2:30 p.m. Tuesday.

His newly hired budget director, Chris Atkins, made a perfunctory visit to the committee today, but revealed no insight into Pence's proposal.

Pence, a Republican congressman for 12 years before winning the election, will be sworn in Monday.
He proposed a 10 percent income tax cut while on the campaign trail. Key Republican lawmakers, though, have questioned the viability of that cut. Pence He had suggested expanding kindergarten, early childhood education and vocational training.

State revenue is projected to grow 2.2 percent in 2014 and 2.9 percent in 2015. The state has a $2 billion reserve and a structural budget surplus -- money the state raises annually but is not spending -- of about $500 million.