Indiana Governor Eric Holcomb, joined by House Speaker Brian Bosma, Senate President Pro Tem David Long and other lawmakers, today signed into law a balanced budget and historic infrastructure funding.
“Indiana lawmakers passed an infrastructure plan of historic proportions, putting our state in a strong position to finish what we started, maintain what we have and build for future growth. We did this all while maintaining a balanced budget and responsible reserves that will continue to diversify and grow our economy,” Gov. Holcomb said. “This achievement is marked by the spirit of collaboration that made this session a tremendous success for Hoosiers.”
The biennial budget (House Enrolled Act 1001) and state’s transportation funding plan (House Enrolled Act 1002) gained final legislative approval late last week.
“Today marks a monumental achievement for our state. Not only have we enacted another honestly balanced budget funding our key priorities, we have enacted an historic road funding plan for the next generation, cementing Indiana’s reputation as the Crossroads of America,” Speaker of the House Brian Bosma said. “Our long term road funding plan is comprehensive and sustainable, does not saddle our children with debt, and answers the call to direct all fees paid at the pump to roads. Unlike other states and Washington, D.C., we worked from a strong fiscal foundation to build consensus, support pro-growth policies and keep Indiana moving in the right direction.”
The state budget funds several priorities outlined in Gov. Holcomb’s Next Level legislative agenda in January, including incentives to increase the amount of venture capital in the state, regional economic development, pre-K expansion, double tracking the South Shore Line in northwest Indiana, pay increases for law enforcement officers and more.
HEA 1002 provides long-term funding to maintain state and local roads while finishing projects we have started and delivering the tools to invest in our future.
“These bills work together to position Indiana for continued growth and prosperity,” Indiana Senate President Pro Tem David Long said. “Responsible fiscal management has been the foundation of our pro-growth economic environment for over a decade and this budget bill continues to advance those principles. When you combine that with a sustainable plan to fund our transportation infrastructure needs for the next 20 years, I think Indiana is continuing to send a message that we are a great place to live and do business.”