Senate Republicans announced Thursday their two-year state budget proposal, which is balanced, provides historic support for education, and cuts half a billion dollars in debt, said State Sen. Ryan Mishler (R-Bremen), chair of the Senate Committee on Appropriations.
The Senate Republican amendment to the budget bill, House Bill 1001, includes $875 million in additional dollars for K-12 funding, makes one-time investments to produce long-term financial benefits for the state, and increases funding for mental health and law enforcement.
The Senate budget proposal also includes funding to:
Buy down the TRF pre-96 pension fund;
Create the Regional Economic Acceleration and Development Initiative (READI);
Provide Small Business Restart Grants for businesses affected by the pandemic;
Address student learning loss due to the pandemic;
Expand broadband access;
Invest in mental health support and grants to improve Hoosiers’ health;
Increase opportunities for parental school choice;
Increase special education funding;
Provide a pay raise for the Indiana State Police (ISP);
Establish the High Tech Crimes Unit and provide funding for ISP to fight internet crimes against children; and
Provide body cameras for the ISP and local law enforcement agencies.
“The Senate Republican budget includes another historic increase in K-12 funding, which comes on top of the $3 billion in federal money our schools are already receiving,” Mishler said. “In addition to this significant infusion of dollars into K-12, we are able to reduce state government debt and make one-time investments that accelerate economic development while maintaining a balanced budget with strong reserves. I look forward to continuing budget discussions with my colleagues in the General Assembly and the governor as we work toward the close of this legislative session.”