John,

 

✅ Paid off current debt and avoided future debt to the tune of $1.6 billion.

 

✅ Kept more than $2 billion in state reserves.

 

✅ Maintained our AAA credit rating.

 

Indiana’s latest budget is a testament to Governor Holcomb’s forward-thinking, conservative fiscal management –– and the effects of these decisions will be felt decades down the road.

 

[WATCH] Governor Holcomb Outlines Indiana’s Strong Fiscal Position

The bottom line: “Holcomb talked about the state of the Hoosier economy, a $500 million effort to transform regional economies and a daunting challenge in an extended interview on this weekend’s edition of Inside Indiana Business with Gerry Dick...The second-term governor says he is very bullish on the state’s long-term prospects. “The sky’s really the limit for where we end up in 10 or 20 years and that’s what we’re planning for.” –– Inside Indiana Business

 

[READ] New state budget invests in Hoosiers' future

 

The bottom line: “The state's updated fiscal forecast in April projected an increase of $2.4 billion in tax revenue over the next three years compared to December's projections. This report reflects confidence in Indiana's future and proof that years of responsible fiscal stewardship played a key role in Indiana's strong emergence out of the pandemic. That's why our new biennial budget pays down debt and makes strategic investments in our citizens, schools, communities and infrastructure.” –– State Rep. Bob Heaton (R-46)

 

[READ] Indiana budget, with new revenue, will pay down pension and bond debts

 

The bottom line: “A rosier revenue forecast and new federal relief will help Indiana fund infrastructure projects, pay down some debt, replenish reserves and boost education funding...The state will use $300 million to pay down debt. Another $600 million will help the state pay down teacher pension obligation saving money in the long run and $500 million will help shore up the depleted unemployment insurance trust fund.” –– The Bond Buyer

 

Under Governor Holcomb’s leadership, Hoosiers haven’t just weathered the economic turmoil of COVID-19. We’ve emerged stronger than ever before, and the future is only getting brighter under this budget.

 

Thank you for your reading, John, –– be sure to keep an eye on your inbox for more updates in the coming days!

 

- Jake Oakman