Indianapolis (AP) — Indiana’s new state budget that private school voucher program Republican legislative leaders will accelerate planned income tax rate cuts for higher earners under a deal announced Wednesday.
Senate Republicans resisted both House-backed moves But after the latest tax revenue report released last week showed that the state is expected to make about $1.5 billion by July 2025, or 2.5% more than previous estimates, they’re on board with the budget deal. was included.
Republican leaders said the bill would increase funding for K-12 schools by about $1.2 billion, or 8 percent, over two years of the budget. But the expansion of vouchers could account for more than $500 million of that sum by raising family income limits and lifting other restrictions on state money eligibility for private school tuition.
Proponents of the voucher expansion claim it will give parents the power to decide which school is best for their child.
Democratic Rep. Greg Porter has criticized the voucher expansion as a “sneaky” step that benefits wealthy families while leaving traditional school districts with subinflationary funding increases.
Budget arrangements also include speeding up i The personal income tax cut was approved a year ago. Under this plan, the tax rate will be gradually reduced from the current 3.15% to 2.9% in 2027. This is two years ahead of his current schedule.
The budget deal comes as the Republican-dominated Congress faces a deadline to end this year’s session by the end of this week.
https://www.wowo.com/broad-school-voucher-expansion-makes-indiana-gop-budget-deal/ Broad School Voucher Expansion Brings Indiana GOP Budget Deal – WOWO 1190 AM