Indiana avoids budget shortfall list

March 4, 2008
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A new report by a Washington, D.C., think tank shows 25 states expect budget shortfalls in their 2009 fiscal years. Illinois and Kentucky are on the list issued by the Center on Budget and Policy Priorities, but Indiana isnâ??tâ??at least so far.

The last time Indiana responded to the centerâ??s survey, about a month ago, a fund balance of 6.4 percent of the budget was anticipated when the fiscal year ends June 30, said Senior Fellow Liz McNichol.

States are suffering from slowing tax collections on furniture, appliances and other household items after the housing bubble burst, the center says.

Do you think the economy, and state budgets, will get worse before they get better?
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  • Good news for Indiana. And just think we have lower taxes than Illinois. Maybe other states can use us as an example to realize that there are ways to have a positive budget without simply raising taxes.

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