• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Indiana budget plan to include school voucher expansion, expedited tax cuts
Economy

Indiana budget plan to include school voucher expansion, expedited tax cuts

by April 27, 2023
by April 27, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Indiana’s new state budget will expand eligibility for its private school voucher program to higher earners and speed up planned income tax rate cuts under a deal announced Wednesday by Republican legislative leaders.

Senate Republicans had resisted both House-backed moves but they were included in the budget agreement after an updated tax revenue report released last week showed the state is projected to collect about $1.5 billion, or 2.5% more than previously expected through July 2025.

Republican leaders said the budget deal increases K-12 school funding by nearly $1.2 billion, or 8%, over the budget’s two years. The voucher expansion, however, could take up more than $500 million of that amount by raising the family income limit and lifting other restrictions on qualifying for state money toward private school tuition.

Supporters of the voucher expansion argue it empowers parents to decide which school is best for their children. The plan raises the voucher income limit for a family of four from the current $154,000 to $220,000.

Democratic Rep. Greg Porter criticized the voucher expansion as a ‘despicable’ step that will leave traditional school districts with funding increases below the inflation rate while benefiting well-off families.

The budget deal also includes speeding up individual income tax rate cuts approved a year ago. Under the plan, the tax rate would decline in small steps from the current 3.15% to 2.9% in 2027 — two years earlier than currently scheduled.

The budget agreement comes as the Republican-dominated Legislature faces a deadline to conclude this year’s session by the end of this week.

This post appeared first on FOX NEWS
You Might Also Like
  • Pentagon says Israel-Hamas war isn’t spreading despite US soldiers killed in Jordan, Red Sea attacks
  • Johnson forced to delay House vote on controversial surveillance tool after GOP mutiny threats
  • Biden, McCarthy reach debt ceiling deal to avoid default: Here’s what’s in it
  • Trump’s GOP opponents test out different responses to his indictment as they jockey for position behind him
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Eco groups blast Biden admin for supporting Joe Manchin’s pet project
next post
Senate Dem blocks bill to ‘save women’s sports’ after GOP’s Tuberville calls for quick passage

You may also like

Sen Cruz leads push to reintroduce ‘Kate’s Law’ to jail...

June 22, 2023

Texas legislature’s first special session focusing on border security, cutting...

May 30, 2023

Jack Smith asks judge to block Trump from making ‘partisan...

December 28, 2023

House votes to end Biden’s crackdown on gas-powered trucks; four...

May 24, 2023

DOJ opens probe into Alaska Airlines plane blowout: report

March 10, 2024

Chinese official who praised CCP, denied Uyghur genocide visits with...

February 12, 2024

Key House Freedom Caucus member predicts McCarthy to break promise...

July 13, 2023

AOC unleashes on Trump in fiery DNC speech: Sell the...

August 20, 2024

White House insists Biden will ‘absolutely not’ suspend re-election campaign:...

July 3, 2024

42 House Dems defy Biden, vote for ICC sanctions in...

June 4, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,580)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,580)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    The day after: A plan for...

    March 7, 2024

    Trump 2024 opponent Vivek Ramaswamy slams...

    March 19, 2023

    Trump calls out Biden on 9/11...

    September 18, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here