Note to the press: Please include the following statements from State Reps. Bob Behning (R-Indianapolis) and Mike Speedy (R-Indianapolis) in your coverage of Indiana Auditor of State Tera Klutz announcing the state will end the fiscal year with $1.1 billion in excess reserves, triggering an automatic taxpayer refund. While the final refund amount will not be calculated until later this year, early estimates suggest the refund could be as high as $170 per individual filer or $340 for joint filers. In Indiana, reserve balances in excess of 12.5% of the next year's budget is required to be split, with half dedicated to pay down pension obligations and the other half given back to taxpayers. According to the report, about $545 million will go to taxpayers and another $545 million toward pension liabilities. This will be the second time Hoosiers will receive an automatic taxpayer refund since the law passed in 2011.
STATEHOUSE (July 14, 2021) – "Hardworking Hoosiers are yet again reaping the benefits of Indiana's fiscal responsibility. At a time when our national debt is an unfathomable $28 trillion and rising, Indiana's conservative budgeting is a breath of fresh air. Our latest budget not only provides historic funding for Hoosier priorities like K-12 education, but it also reduces taxpayer-funded debt and paves the way for future tax cuts and reforms And today, our state's booming economy and strong fiscal health are resulting in refunds to Indiana taxpayers," said State Rep. Bob Behning (R-Indianapolis).
"We can never forget that government funded means taxpayer funded. Unlike D.C., Indiana is committed to fiscal responsibility and living within our means. When the well runs dry, we do not have the luxury of printing more money or kicking the can down the road. Future generations should inherit opportunities, not debt. Hoosier taxpayers are the reason we can make strong investments in public safety and education, and this refund is well-deserved as the economy is bouncing back stronger than before," said State Rep. Mike Speedy (R-Indianapolis).
Click here for the formal announcement.
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State Rep. Bob Behning (R-Indianapolis) represents House District 91,
which includes portions of Hendricks and Marion counties.
Click here to download a high-resolution photo.
State Rep. Mike Speedy (R-Indianapolis) represents House District 90,
which includes portions of Marion County.
Click here to download a high-resolution photo.
