More tax cuts, more money for schools and funding for the Governor’s health care initiative are all parts of the budget unveiled Friday by Indiana House Republicans.
The proposal does the following…
- Accelerates the individual tax cuts to 2.9 percent by 2026 as opposed to 2029.
- Invests $2 billion in new K-12 dollars.
- Expands the state’s Choice Scholarship program to families of four who make $220,000 or less.
- Eliminates textbook and curriculum fees.
- Increases the dependent child tax exemption to $3000 for the first year a child is a dependent.
- Funds the Govenor’s health care initiative to the tune of $225 million over the biennium.
- Provides $500 million in READI grant funding.
- Creates a $500 million revolving fund for the state Economic development commission to close deals.
- Appropriates $1.25 billion to finish remaining capital projects originally funded in the last budget.
- Provide $60 million for juvenile justice initiatives.
- Invests $2.35 billion into the pre-1996 pension fund.
You can download the budget proposal here.
You can hear House Ways and Means Chairman Jeff Thomspon in the Leon-Tailored Audio above. It runs for about 13 minutes.
