Porter comments on state surplus, fiscal closeout report

INDIANAPOLIS – Indiana released its 2022 Fiscal Closeout report on Friday, July 15. The state’s record surplus is now at over $6.1 billion for SFY 2022. Rep. Gregory W. Porter (D-Indianapolis), a member of the State Budget Committee and Ranking Democrat on the Indiana House Ways and Means Committee, made the following statement:

“From a good governance and fiscal responsibility perspective, our surplus is much too large. It’s bloated by about 20% more than it should be. It’s losing value sitting in the bank when it could be investing in Hoosiers. That said, we have a golden opportunity here to make historic investments in things like public health, education and student debt. We only spend about $17.58 per person on public health. I’d like to see that massively increased, and with an eye toward fixing equity gaps in public health outcomes, as we craft a budget this upcoming session. 

“Despite the opportunity we have, however, I harbor great fears that Republicans will forgo investments in people and instead invest in our credit rating by paying down debts the state is already working on paying. A good credit rating is worthless if our people are sick, receiving a subpar education or unable to support their families.”