Gov. Mike Pence's team presented a two-year state budget today with increases for education, Medicaid and transportation.
Pence also proposed a 10-percent individual income tax cut, phased in over the next two years. Lawmakers will debate changes to the budget over the next four months before approving a final version. Republican leaders already questioned whether Indiana can afford the tax cut, a keystone of Pence's campaign.
The budget does not include money for the Medicaid expansion allowed under the federal Affordable Care Act. It also flat lines or marginally reduces spending across most state departments and agencies.
The budget includes $14.4 billion in spending in 2014 and $14.6 billion in 2015, an increase over $14.2 billion this year.
Pence kept an eye toward fiscal conservatism in his first budget proposal. After the tax cut, the state will have a $267 million structural surplus in 2014 and a $237 million surplus in 2015. That's money the state collects each year but won't spend.
...
See the details here:
Pence also proposed a 10-percent individual income tax cut, phased in over the next two years. Lawmakers will debate changes to the budget over the next four months before approving a final version. Republican leaders already questioned whether Indiana can afford the tax cut, a keystone of Pence's campaign.
The budget does not include money for the Medicaid expansion allowed under the federal Affordable Care Act. It also flat lines or marginally reduces spending across most state departments and agencies.
The budget includes $14.4 billion in spending in 2014 and $14.6 billion in 2015, an increase over $14.2 billion this year.
Pence kept an eye toward fiscal conservatism in his first budget proposal. After the tax cut, the state will have a $267 million structural surplus in 2014 and a $237 million surplus in 2015. That's money the state collects each year but won't spend.
...
See the details here:
