For many years, Indiana’s conservative leaders in the General Assembly and governor’s office have preached fiscal discipline.
Indiana just closed the books on the 2020 fiscal year, and it is clear now more than ever that our conservative budget policies are paying off.
Prior to the current downturn, Indiana had built up $2.3 billion in “rainy day” reserves, putting our state in a much better financial position than many other states across the country. When Indiana’s fiscal year ended on June 30, we had used $900 million from the reserves, leaving us with $1.4 billion left as we continue to deal with the fallout from COVID-19.
Our reserves have allowed Indiana to enter the new fiscal year still fully funding K-12 schools and providing vital relief to Hoosier taxpayers by joining the federal government in pushing back the tax filing deadline to July 15.
There’s no question we still face significant health and economic challenges, but our fiscal discipline has put us in a strong position to tackle these challenges in the months ahead.
R. Michael Young State Senator - District 35 (R)
