Indiana State Senator Randy Head said in a news release, “Indiana was recently ranked in the top ten best states for fiscal stability by U.S. News and World Report. One reason for this ranking is our dedication to keeping our budget balanced.”
To ensure Indiana continues down a fiscally responsible path, the General Assembly recently passed Senate Joint Resolution 7, which gives Hoosiers the opportunity to vote on an amendment to Indiana’s Constitution that would require lawmakers to balance each state budget.
If passed by voters this November, SJR 7 would also require the state to fully fund our pension obligations in each budget.
Senator Head said, “Under existing law, a simple majority of legislators could approve a budget that spends more than it takes in or does not fund the state’s pensions. Under the proposed amendment, waiving either of these requirements would now require a more stringent two-thirds vote of the General Assembly to use emergency spending measures, for example, in the event of an economic downturn or crisis, meaning the amendment would make it harder for the legislature to pass an unbalanced budget or not fund pensions.”
This proposed amendment appears on this year’s election ballot as Public Question 1. For more information on the amendment, click here.
