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Indiana revenue forecast updated to show significant growth in coming years

INDIANAPOLIS (WPTA21 and AP) - Updated figures show Indiana will likely pull in hundred of millions of dollars more in revenue that previously forecast for each year through 2023.

And that could be good news for lawmakers, educators and others, as the next budget comes together.

The new figures project for nearly $18.2 billion in revenues to the total fund this fiscal year.

That would be about $463 million more than expected.

The latest data also calls for $18.1 billion in revenue for Fiscal Year 2022, and $18.8 billion for Fiscal Year 2023.

State legislators received the good news Thursday morning.

It could mean about $2 billion more available for the new two-year state budget being finalized by legislative negotiators.

Republican budget writers will likely face pressure to further increase school funding.

The latest budget proposal endorsed by the Senate this week would increase overall school funding by 1.2% the first year and about 3% the second year,

Jonathan Shelley

Jonathan Shelley is the news director at WPTA TV, which he joined in 2016 following nine years in a similar role in New Orleans and previous news management positions in Oklahoma City and Las Vegas.

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