Top fiscal lawmakers say the potential impact of President-elect Donald Trump’s proposed reforms could upend the new state budget they’ll write early next year.
Budget-writing lawmakers received a new economic forecast earlier this month; that helps provide guidance as they determine how much money they can spend in the next two-year state budget.
But House Ways and Means Chair Rep. Tim Brown (R-Crawfordsville) acknowledges that potential federal changes – something like altering the tax code or significant health care reform – could dramatically change the picture.
And so, he says, House Republicans will put together a task force to monitor and evaluate federal legislation.
“And I think we’d have time to analyze it and get back for a short session,” Brown says.
Senate Appropriations Chair Sen. Luke Kenley (R-Noblesville) says he’s especially watching for changes to the tax code, which he notes federal legislators seem eager to embrace.
“So maybe that makes this economic forecast a little more viable, even though it’s a little rosier than I thought it was going to be,” Kenley says.
A national analyst who provided an economic forecast to state lawmakers admitted he didn’t include potential federal reforms in his outlook, because they were too uncertain.