During this year’s “long session†at the Indiana General Assembly, we are constitutionally obligated to pass a biennial budget. I am pleased to report this year that our House Budget is structurally balanced, and continues to protect Hoosier taxpayers while also restoring much-needed funding to education. Thanks to our state’s strong fiscal position, we were able to provide helpful tax relief in the form of an accelerated inheritance tax phase out, but we also made restorations in education and other services.
As an educator, I am very pleased with the greater investments in education funding. Our new budget includes the following education spending increases:
•$354 million in school operating funding over the next two years
•$197 million in fiscal year 2014 for full day kindergarten
•$203 million in fiscal 2015 to fund full day kindergarten
•$150+ million each year of the biennium will be transferred to the Tuition Reserve Fund
•$10 million over the next two years to recruit STEM teachers to schools that need them most
•$6 million to fund dropout prevention programs
The $354 million in school operating funding will assist school corporations with their essential day-to-day operations. The allocation of $400 million dollars over two years for full day kindergarten will give young Hoosier children a great head start to their educational career.
Transferring over $150 million each year of the biennium to the Tuition Reserve Fund will provide every Hoosier student the financial support they need to get a good education. When striving to provide an excellent education, it is absolutely crucial to give every student the same opportunities to learn, grow and succeed all the way to the finish line. The $6 million being used to fund dropout prevention programs is an important part of our education investments.
I am particularly excited that our House Budget includes $10 million over the next two years to recruit Science, Technology, Engineering and Mathematics (STEM) teachers to be placed in the school that needs them most. These areas of education are fields that are in high demand and will help give Hoosiers the opportunity to receive a job and help contribute to our growing economy.
Our House leadership has taken a prudent conservative approach by maintaining healthy reserves and protecting taxpayers while also restoring education investments. I am proud of our House Budget, and I believe it will be very beneficial for Hoosiers.
