New state revenue forecast will lead to funding changes
INDIANAPOLIS - Lawmakers will have to adjust their budget priorities by about $100 million following an updated revenue forecast Tuesday.
The analysis shows tax collections growing, but at slower rates than initially forecast in December : a drop of about $30 million in revenue.
On top of that, an updated Medicaid forecast shows increased net expenses of about $65 million.
That equals about 34.6 billion budget expected to be approved next week.
“This does change things a little bit,” said Senate budget steward Sen. Ryan Mishler, R-Bremen. “We will see what we’re willing to cut out.”