Indiana plans budget cuts in light of plummeting tax revenues

Indiana

INDIANAPOLIS (AP) — Indiana’s unemployment rate hit 16.9% in April due to widespread business closures during the coronavirus outbreak. State officials warned Friday of steep spending cuts in reaction to plummeting tax revenues.

Officials are however pointing to some hopeful signs of economic recovery as restrictions on business and gatherings ease. Indiana’s workforce agency commissioner says the state is processing fewer ongoing unemployment benefits claims and many factories are resuming operations at full strength.

Indiana’s state government agencies have been told to cut spending by 15% for the coming year.

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