Historic reserves an opportunity to invest in Hoosiers
INDIANAPOLIS- State Representative Ed DeLaney (D-Indianapolis), a member of the House Ways and Means Committee, today issued the following statement on the revenue forecast presented at the State Budget Committee meeting.
Indiana's 2-year revenue is forecasted to produce $3.3 billion beyond what was predicted in April forecasts. The growth in funds from sales taxes, individual income taxes and corporate income taxes puts the state in a position to have reserves of $5.1 billion for this fiscal year and $4.1 billion in the next fiscal year.
“Our current financial success raises the question of what we will do with our reserves,” DeLaney said. “It’s time to make transformative investments toward lowering college tuition, building decent local roads, taking advantage of federal matching funds to build high-speed rail, investing in teacher training and compensation and making a serious effort to create a statewide pre-school program.
“The time for action is now. Continuing to do nothing while neighboring states pass us by is a strategy for finishing last. We can afford to invest in Hoosier workers, families, and economic potential - the reality is we can’t afford to do nothing. This unique financial opportunity can fund efforts to improve our chronic underinvestment in services Hoosiers depend on. If the majority doesn’t share these goals it is incumbent on them to give us alternative investments.”