Governor Eric J. Holcomb offered the following statement regarding the 2022 state fiscal year close-out with $6.1 billion in reserves.
“Indiana’s economy is growing at an unprecedented rate due to the lowest unemployment rate in state history, higher-than-expected income tax revenues and growing our state’s GDP at a faster rate than the national average while meeting the essential needs of Hoosiers. I have called a special session to return $1 billion to taxpayers because it can’t wait until next year as we all face rising inflation costs. I plan to present a biennium budget that will address more support for our public health system, salary increases for state employees, additional funding in K-12 education and another round of funds dedicated to the READI program to help local communities improve their overall quality of life.
I want to thank state fiscal leaders for their continued fiscal diligence that will benefit Hoosiers for years to come.”