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Revenue shortfall expected to continue through two-year budget cycle

By Shelby Mullis TheStatehouseFile.com  INDIANAPOLIS — Indiana will see about $394 million less in its biennial revenue collections than projected in April 2017. But the House Ways and Means Committee chairman said he isn’t worried because the state has a surplus and the reserves needed to “make adjustments as we need.” “Indiana will have a […]

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State revenue collections come in below forecast

Staff Report TheStatehouseFile.com Indiana’s year-to-date revenue collections of nearly $5.8 billion have come in nearly $150 million below what was forecast by the State Budget Agency last spring. The agency on Monday issued its revenue report for November, which found that although actual collections for the current fiscal year are below forecast, they are above […]

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Indiana has $200 million more coming in than originally estimated

By Shelby Mullis TheStatehouseFile.com INDIANAPOLIS — An unanticipated surplus in the state’s estimated revenue could be what Sen. Luke Kenley, R-Noblesville, calls an “appropriate cushion” for Indiana’s two-year budget. The revenue forecast, presented to the State Budget Committee Wednesday by a bipartisan group of analysts, revealed nearly $200 million in additional revenues in fiscal years […]

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State expects less revenue in 2017 than originally forecast

By Adrianna Pitrelli TheStatehouseFile.com INDIANAPOLIS — The General Assembly will have less money to work with in the upcoming fiscal year than they previously planned. “The committee has lowered the fiscal year 2017 forecast by nearly $300 million as compared to the December ’15 forecast,” Ben Tooley, Director of Fiscal Policy for the House Republicans, […]

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Projections: Tax revenue will be $213 million less for next budget

By Lesley Weidenbener TheStatehouseFile.com INDIANAPOLIS – State lawmakers will have about $213 million less to spend during the next two years than they thought when they started working on the 2016-2017 budget. That’s a drop of less than 1 percent each year, according to a revenue forecast the State Budget Committee received Thursday morning. So […]