Qaddoura Statement on Revenue Forecast

Published On: December 15th, 2022Categories: Caucus, Fady Qaddoura

INDIANAPOLIS— Today, the State Budget Committee received the updated revenue forecast that adds nearly $370M to FY 23, and $1.24B to FY24-25, bringing Indiana’s structural surplus to $2.5B and total combined balances to nearly $4.8B by the end of State Fiscal Year (SFY) 2023. State Senator Fady Qaddoura (D-Indianapolis) issued the following statement about the state’s fiscal position:

“Today’s budget forecast indicated that inflation is slowing, the recession risk is significantly reduced, and Indiana’s combined balances for SFY 2023 are estimated at nearly $5 billion. Given Indiana’s poor rankings on many quality of life metrics including education, public health, maternal and infant health, and early childhood education, we can’t afford to not invest in the future of Hoosier families by funding critical priorities to address Indiana’s chronic and declining performance on these critical measures. The cost of either delayed or continued underfunding will further expedite the deterioration of Indiana’s performance and the quality of life for Hoosiers.”

“I have a different vision. We have the resources to fund universal Pre-K across the state, significantly boost K-12 funding, increase investments in higher education and career training, and address Indiana’s poor public, mental and maternal health outcomes. It is time for bold leadership that will address the issues facing Hoosiers.”

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