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Get the latest on the global Coronavirus/COVID-19 pandemic as it impacts Northwest Indiana, the state, country, and globe. Bookmark this page as there will be several updates each day from Lakeshore Public Radio, IPB News, NPR, and the Associated Press.

Indiana finances take a big blow from coronavirus crisis

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Lauren Chapman
/
IPB News

INDIANAPOLIS (AP) — Indiana's finances are taking a major hit from the coronavirus crisis, and it just remains to be seen how big of a hit it will be.

Unemployment claims have skyrocketed with business and factory closings in the past couple weeks, along with less retail spending expected to mean a sizeable hit to sales tax revenue.

Gov. Eric Holcomb says perhaps $1 billion will have to be spent from the state’s $2.3 billion in cash reserves to get through the budget year that ends June 30.

The federal coronavirus economic relief package dedicates at least $1.25 billion to each state, but Indiana officials haven’t yet said how much they anticipate the state will receive.

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