November 19, 2012 – Despite a surplus that has topped $2 billion, the state’s budget remains uncertain and significant new spending is unlikely, said GOP legislative leaders on Monday. Tax revenue from gambling is down, the state is implementing two tax cuts approved earlier this year, and congressional indecision about the federal budget and taxes makes Indiana’s revenue situation tough to predict, lawmakers said. “The fiscal fog is thick,” House Speaker Brian Bosma, R-Indianapolis, told a group of business leaders at a luncheon in Indianapolis. “These are uncertain times.” That uncertainty also means it’s unlikely that Indiana could implement an expansion of Medicaid under the federal Affordable Care Act without a significant tax hike, said Senate President Pro Tem David Long, R-Fort Wayne.
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