Micah PollakDec 11, 2022

Indiana ended fiscal year 2022 with a budget surplus of $3.9 BILLION (with a "B"!). This is the largest budget surplus for the state since at least 1976 (which was as far back as I went) by a huge margin and SIX TIMES what the state predicted it would see in 2022.

I would love to see this record surplus lead to record investment in education, healthcare, economic development, social programs and infrastructure.

#Indiana #HoosierMast #PublicFinance #Surplus #BudgetSurplus

Show threadBathsheba BlueDec 12, 2022
@pollak
Did the state rake in federal stimulus money then refuse to spend it? Many GOP states have done that and are touting their economic policy.
Show threadMicah Pollak
@inklings It would take some digging to see what percent of Federal stimulus received by Indiana was spent, but I believe Indiana has done a pretty good job spending most of what they received. Most of the higher than expected budget surplus is due to a strong economy (higher than expected income tax revenue and lower than expected state expenses).
Dec 12, 2022 at 4:21pmWeb
Show threadBathsheba BlueDec 12, 2022
@pollak
Thx. I didn’t mean to sound snarky. But my state pocketed fed money, (cut off EUI early, failed to distribute housing funds, didn’t invest in school ventilation etc.) and has a record surplus and wants to use that as an excuse to eliminate the state income tax.