Uncertainty Of Revenue Forecast Casts Shadow On Passage Of Budget

Senate budget architect Luke Kenley says lawmakers should celebrate Wednesday’s Senate passage of the budget bill as a “high water mark” for state spending this session.  But, he's worried about an upcoming revenue forecast.

Every two years, lawmakers write the final version of the state budget based off tax revenue projections released in mid-April, just a couple weeks before the end of session. Kenley says he’s concerned that, after revenues over the past year have fallen short of expectations, the upcoming revenue forecast will force the General Assembly to spend less than what the budget bill currently contains.

“So instead of you all, as you’ve been coming to me the last 60 days, saying, ‘I’d like to have money for this and I’d like to have money for that,’ you’re probably going to be coming to me and saying, ‘Please don’t cut this and please don’t cut that,'” Kenley said.

Through three-quarters of the current fiscal year, Indiana tax collections have missed the mark by more than $100 million.  The State Budget Committee will review new revenue projections Thursday.