The House Budget supports Indiana jobs and economic development

STATEHOUSE — Rep. Bob Morris (R-Fort Wayne) is very pleased with the proposals in House Bill 1001, the Indiana Budget. The budget has a strong focus on high quality job growth, bridging the skills gap, strengthening education, building and maintaining infrastructure, protecting the vulnerable, and protecting the taxpayer with a focus on conservative fiscal integrity.

"The House’s budget supports Indiana’s priority to build on our state’s economic environment, which has shown to be one of the most conducive in the country for job growth,” said Rep. Morris.  “This budget is designed to focus on growing the private sector and holding our position as a leader in fiscal management with a conservative approach to handling tax payer’s money.”

The General Assembly has strived to create an economic environment conducive to private sector job growth, in addition to bridging the skills gap under a fiscally conservative direction.  HB1001 will restore the Adult Basic Education appropriation to $14 million per year.  The bill will also increase funding for the Skills Enhancement Fund (SEF) to $36 million over the biennium to train and educate Hoosier workers.

The proposed budget will accelerate the elimination of the death tax to January 1, 2018 saving almost $300 million. Currently, the death tax would not have been eliminated tax until January 1, 2022.  Speeding up the elimination of the death tax will help keep more farms and small family businesses in the hands of Hoosiers as well as encourage more Hoosiers to stay in Indiana after retirement.

HB 1001 will allow for sustainable spending levels in the future.  Assuming conservative revenue growth and budget appropriation growth rates, structural balance will be maintained years into the future.

“Indiana is one of only nine states that have a triple-A credit rating from all three agencies,” said Rep. Morris. “This recognition comes from having an honestly balanced budget that provides the framework for local and state governments to prudently address high quality job growth, bridging the skills gap, infrastructure improvements, education needs and protective services.”