Indiana News

Declining Collections Eat Away at Fiscal Footing

INDIANAPOLIS (AP): Indiana's fiscal picture still looks strong one year after former Governor Mitch Daniels left the state with $2 billion in cash reserves, but an unexpected downturn in tax collections could keep lawmakers cautious during their upcoming session. State budget leaders received a new estimate last week that tax collection will come in short $298 million over the next two years. And unexpected hits like the loss of tobacco settlement money have cut into the money state leaders have to spend.

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