Porter comments on rosy Indiana state revenue forecast, thanks federal Democrats

INDIANAPOLIS – State Rep. Gregory W. Porter (D-Indianapolis), Ranking Democrat of the Indiana House Ways and Means Committee and State Budget Committee member, celebrated today’s updated state revenue forecast, which shows continued robust growth.

Indiana is forecasted to receive approximately $3.3 billion in new revenue for the state fiscal years of 2022 and 2023, which surpasses the previous April 2021 forecast by nearly $700 million. All three of Indiana’s big revenue sources – sales taxes, individual income taxes and corporate income taxes – are experiencing tremendous growth.

“Federal Democrats’ widespread vaccine distribution efforts and economic stimulation generated with COVID-19 stimulus dollars in the American Rescue Plan Act, and more recently the passage of the Infrastructure and Investment Jobs Act, is the driver behind this new revenue,” Porter said.

“I view this windfall as an opportunity for investment. Our state’s human infrastructure has been woefully neglected, and this is not the time for additional unnecessary tax cuts for big corporations.

“Now is not the time for bloating the state coffers further. Instead, we must make major down payments on the people who make up our state – reducing healthcare disparities for people of color and rural folks who aren’t receiving the quality healthcare they need. Encouraging more people to become educators by increasing teacher pay regularly. Helping people free themselves from the burden of student loan debt. Allowing our teachers and public servants to have a dignified, full retirement.”