Indiana House passes spending, inflation relief bill
INDIANAPOLIS (AP) — The Indiana House has approved a bill that includes $200 rebate payments from the state’s surging budget surplus.
Though less than Republican Gov. Eric Holcomb’s initially proposed $225 refunds, the bill approved Friday represents a concession from GOP senators who were reluctant to go along with that plan because they were concerned the rebates would further fuel inflation.
The compromise includes utilizing about $1 billion from the state’s record $6.1 billion in cash reserves for the rebates.
Another approximately $1 billion will flow toward a state teacher pension fund’s future obligations, a debt Senate Republican leaders have prioritized paying. The Senate could consider the bill later Friday.
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