|
Operating Within Our Means
by State Senator Vaneta Becker
NOVEMBER 8, 2022
Indiana is consistently recognized as one of the most fiscally responsible and business-friendly states in the country, in large part because of our steadfast commitment to operating within our means.
Here in Indiana, we balance budgets and stay committed to our priorities, including investing in important public needs like schools and roads, maintaining a favorable tax climate and paying off debt.
For example, we continue to aggressively pay down our outstanding obligations to the Pre-1996 Teachers’ Retirement Fund, so it doesn’t remain hanging over the heads of Hoosier taxpayers. We were pleased to have recently paid down an additional $2.5 billion this year. Once this fund is fully financially self-sustaining, Indiana will have $1 billion a year freed up in our state budget.Â
Because we operate within our means, we were also able to pass House Enrolled Act 1002 to phase down Indiana’s income-tax rate to 2.9%, which is tied for the lowest rate in the nation among states with an income tax.Â
Furthermore, Indiana was recently ranked No.1 for infrastructure by CNBC due to the overall sustainability of our roads, bridges and broadband access – all of which have been made a priority by my colleagues and me.
Lastly, Hoosiers and entrepreneurs from other states see our state as a place to invest in. Last year, Indiana set a record for new small business startups, which is a direct indication of our healthy business climate.Â
Practicing fiscal responsibility and investing in Hoosiers will remain priorities for me as your state senator, as I believe it will pave the way for tremendous opportunities in the near future. |
