Indiana more than $300M off its budget plan through four months of fiscal year

Indiana failed to collect as much revenue as the state budget plan expected for the third consecutive month in October.

Indiana collected $189 million less last month than its budget plan expected. And through four months of the fiscal year, state revenues are now $342 million short of the budget mark.

All three of the Indiana’s major tax categories are failing to meet expectations this fiscal year.

Indiana will receive a new revenue forecast next month. But Senate President Pro Tem Rodric Bray (R-Martinsville) said lawmakers are prepared for a much less rosy picture than the last few years.

“It is appropriate to set expectations a little bit lower this year, because I do not think we’re going to have the revenue that we’ve been accustomed to,” Bray said.

READ MORE: Where does Indiana state budget funding come from?

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Lawmakers will begin writing a new, two-year state budget in the session that begins in January.

Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.