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What’s happening in Indiana? So far this year, there have been many changes that could leave Hoosiers facing financial difficulties. As your community foundation, we hope to educate you on these changes the best we can. In this 4 week series we will take a deeper look into these tax cuts and provisions and explain how it’s going to impact us. But first, we need to understand what is happening at the state level.
Firstly, Indiana’s budget has taken a substantial cut due to a $2 billion revenue shortfall. When the newly elected governor took office, he discovered that instead of a $2 billion surplus to our budget, we actually have a $2 billion deficit. So, $2 billion less to spend than previously expected. To make up for that deficit the state has raised the cigarette tax, cut public health and higher education funding, and plan to spend down budget reserves.
Here’s a breakdown:
Public Health: a 60% cut to the states public health funding, impacting local health departments.
Higher Education: a 5% reduction in funding for public universities, including a 5% cut to their building maintenance budget.
Indiana Economic Development Corporation (IEDC): A 25-30% reduction in the IEDC's budget.
Public Broadcasting: State funding for Indiana Public Broadcasting stations was eliminated, removing $3.675 million in support.
Dolly Parton's Imagination Library: This program, which provides free books to young children, was not funded, though First Lady Maureen Braun has launched a fundraising initiative.
State Library: The Indiana Library Federation opposed a severe 30% cut to state library
Trails: Funding for trails was also eliminated.
Most state agencies: Most agencies received a 5% funding cut.
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