[R57] The House Budget supports Indiana jobs and economic development (2/25/2013)

Monday, February 25, 2013

Start Date: 2/25/2013 Start Time: 12:00 PM
End Date: 2/25/2013 End Time: 12:00 PM

The House Budget supports Indiana jobs and economic development

STATEHOUSE — Rep. Sean Eberhart (R-Shelbyville) supported House Bill 1001, Indiana’s biennial budget for 2014-2015, today. The budget has a strong focus on high quality job growth, bridging the skills gap, funding education, building and maintaining infrastructure, protecting the vulnerable, protecting taxpayers and maintaining fiscal integrity.

“My focus is on growing the private sector and bridging the skills gap, while ensuring prudent stewardship of Hoosiers’ tax dollars,” said Rep. Eberhart. "The House’s budget supports Hoosiers over the long run, providing a solid foundation for the future of Indiana.”

To strengthen Indiana’s private sector economy and bridge the skills gap, HB 1001 will restore the Adult Basic Education appropriation to $14 million per year.  The bill will also increase funding for the Skills Enhancement Fund to $36 million over the biennium to train and educate Hoosier workers.

Tax relief is also a priority of the budget as it accelerates the elimination of the death tax to January 1, 2018 saving $270 million. Currently, the death tax would not have been eliminated until January 1, 2022.  This 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, a structural balance will be maintained years into the future.

“The House has led the effort on sustainable spending and responsible revenue management. Our budget shows where our focus is, on education and jobs, and we have to look at the long term use of those funds so Indiana can continue to grow,” said Rep. Eberhart.