Porter: ‘Indiana is entering a K economy’

On Friday, the state released its monthly revenue report. April revenue was $263.6 million above the estimate, reaching $425.7 million above forecast for FY 2026. 

State Rep. Gregory W. Porter (D-Indianapolis) issued the following statement:

“Indiana’s economy is booming. We’re up about half a billion dollars with two months left in the fiscal year. At this rate, especially with reversions in closeout, our surplus could potentially exceed $5 billion. 

“But Hoosiers aren’t doing well. We’re entering a K economy: the state and the wealthiest fortunes are trending up, while the 99% is experiencing a sharp decline. The number of Indiana households in poverty is rising.

“Suspending both gas taxes is a step towards assistance, but we need to do more. We should look into income tax rebates, actual property tax relief and additional support for childcare providers still struggling with reimbursement rate cuts.  

“What’s the point of hoarding tax dollars while Hoosiers struggle? This isn’t the government's money. It’s the people’s.”