May 13, 2022

Indiana collects nearly $1 billion more in April than budget expected

Article origination IPB News
April 2022 marks the first time ever the state has collected more than $3 billion in taxes in a single month. - Brandon Smith/IPB News

April 2022 marks the first time ever the state has collected more than $3 billion in taxes in a single month.

Brandon Smith/IPB News

Indiana collected nearly $1 billion more in taxes last month than the state budget projected.

With just two months left in the current fiscal year, that puts Indiana on pace for budget reserves that could top $6 billion. And April marks the first time ever the state has collected more than $3 billion in taxes in a single month.

April’s eye-popping revenue collections was led entirely by a huge surge in individual income taxes.

 

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In a statement, House Democrats said Indiana is well-positioned for “transformational investments” in the upcoming budget session next year.

The Democrats’ fiscal leader, Rep. Greg Porter (D-Indianapolis), said Republicans have practiced “sheepish frugality.” He cited needs for help with gas prices, education investments and affordable housing.

Contact reporter Brandon at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.

Copyright 2022 IPB News. To see more, visit IPB News.

 

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