The Holcomb administration’s proposed budget, as presented to lawmakers, contains only a modest increase in education spending.
Gov. Eric Holcomb proposes $280 million in new money for K-12 education over the next two years – a 1 percent increase in the budget’s first year, and a 2 percent increase in the second year.
Office of Management and Budget Director Micah Vincent says that the governor’s proposed budget is just the starting point in the budget process. And he notes it also keeps reserve levels of at least $1.8 billion.
“Continuing that fiscal discipline is just absolutely critical so that taxpayers can know that when a recession comes, we don’t have to make drastic changes,” Vincent says.
While a primary focus of the legislative session is different ways to pay for road infrastructure needs, Vincent says the budget also addresses other types of infrastructure, including creating a water infrastructure data hub.
“To be able to better map and plan and make useful data that’s coming in around water so that we can make better long-term water policy decision,” Vincent says.
Other notable increases include a state police pay raise and a $100 million increase in the Department of Child Services budget.