Hoosier Tax Revenues Stabilize After Coronavirus-Related Plunge Earlier In 2020

Dec 17, 2020

The Indiana Statehouse
Credit Lauren Chapman/IPB News

INDIANAPOLIS (AP) — Indiana’s state tax revenues have largely stabilized from the plunges seen early in the coronavirus-caused recession, although state budget leaders are warning that money could remain tight as legislators begin work on a new two-year spending plan. New revenue projections presented Wednesday to the State Budget Committee showed Indiana could end the current budget year with about the same $2.3 billion in reserves as two years ago. While state budget leaders said that protecting school funding would be a priority during the upcoming legislative session, they held out little prospect for much additional money toward boosting Indiana’s lagging teacher pay.