Budget Plan Outlined By Daniels

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(STATEHOUSE) - Governor Mitch Daniels has outlined his budget priorities for the next biennium, specifically a proposal to limit spending growth to 4%.

The state is expected to close fiscal year 2007 with an adjusted surplus of over $200-million. Revenues for the period are estimated at nearly $12.5-billion and expenditures are about $12.2-billion.

The state's revenue forecast, issued on December 14th, projects revenue growth of 4.2% in fiscal year '08 and 4.5% the following year. Daniels is urging the General Assembly to limit spending growth to 4% or less in the next budget, allowing for more than $1.5-billion for new spending.

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