Indiana lawmakers got some bad news Wednesday afternoon, the state is facing a $2.4 billion shortfall.  And to close that gap, lawmakers say everything is on the table, from tax increases to spending cuts, even legalizing marijuana.

During the April revenue forecast, lawmakers were told that due to the economic slowdown, a near zero revenue growth and tariffs, they could expect to bring in $2.4 billion less in revenue.

To close that gap, Republicans and Democrats acknowledged that everything, literally, has to be on the table.

You can hear lawmakers reaction in the audio above.

You can see their statements below.

Governor Mike Braun (R)

  • “As a business owner, I navigated through tough times and always came out stronger because I focused on cutting waste, eliminating overhead, and getting back to the basics. Today’s forecast reflects what we are dealing with in the aftermath of disastrous Bidenflation. There will be some tough times ahead, but the America First economic policies we are pursuing here and in Washington will unleash an economic boom.  However, we must finalize a biennial budget that respects the revenue forecast and protects Hoosier taxpayers from a worst-case scenario. I will work with the General Assembly to craft a budget that is structurally balanced, maintains strong reserves, and funds vital services like public safety and education.”

State Senator Ryan Mishler (R)

  •  “Today’s fiscal forecast is definitely concerning, making it more important than ever for us continue to demonstrate our path of strong fiscal discipline both this year and in the coming biennium. “Medicaid is also continuing to grow – fortunately the rate of the growth appears to be slowing – and while we are working on legislation to help address that this year, we will need to continue to find ways to make the Medicaid program more efficient. “The state general fund forecast is a reflection of the projected economic variables. We must tighten our belt and continue to practice fiscal responsibility during budget discussions over the next two weeks in order to enact a balanced budget.”

State Rep.  Jeff Thompson (R)

  •  “Our latest revenue forecast shows continued economic growth, but at a slower pace than was expected last December. As a result, the state’s revenue growth — while positive — will be lower than expected when the House and Senate crafted their respective versions of the budget. Fortunately, Indiana is in a strong position to overcome budget challenges because of our commitment to living within our means and maintaining prudent reserves. I will continue to work with my fellow lawmakers and the governor on how we can look at ways to run state government more efficiently while ensuring Hoosiers continue to receive the services they need.”

State Rep. Greg Porter (D)

  • “I’m thankful Indiana has a nonpartisan forecast because we can focus solely on the numbers. But today our numbers are unclear. We’re operating in a time of extreme uncertainty. The revenue forecast is down $2.37 billion for the next few years. We’ll be down $403 million in 2025, $963.9 million in 2026 and over $1 billion in 2027. This is an unprecedented negative change between the December and April forecasts. People knew the 2009 recession was coming back thanks to Trump’s tariffs, but this is a reality shock.  Federal actions could completely change our trajectory. We’re one of the most intense manufacturing states in the nation, so we could get hit hard. When the U.S. gets a cold, Indiana gets pneumonia. Our budget has to be done in a week. In the past, I’ve proposed doing an annual budget during periods of uncertainty. I said we needed to move this forecast up a month. Now it’s crunch time, and we’re writing this budget with a blindfold.”

Lawmakers have to pass a budget by April 29.