Holcomb: Indiana's Financial Surplus Will Help State Recover From Impact Of COVID-19

Mar 26, 2020

The Indiana Statehouse.
Credit Lauren Chapman / IPB News

Indiana officials are still optimistic the state’s economy will bounce back from the effects of the novel coronavirus.

Congress is close to approving a $2 trillion stimulus package that will help states, businesses and workers. Indiana officials say that will bolster the state’s already strong position to combat economic hardships due to the coronavirus.

Businesses are temporarily closing and laying off workers during the pandemic. Tens of thousands of Hoosiers filed for unemployment last week alone. 

Indiana officials say they’re planning assistance programs to help navigate the financial challenges.

Gov. Eric Holcomb says Indiana’s economy is strong and will bounce back with the help of federal assistance.

“I can tell you that if you’re looking at that bill right now, and you’re looking at a minimum of $1.2 billion coming to every state at a minimum, that’s gonna help us build a bridge,” says Holcomb.

READ MORE: Child Care, Gig Economy Worker Relief Still Unresolved

Touting the state’s economic stability, Holcomb says the more than $2 billion in surplus money can help boost Indiana’s recovery from a recession.

“Hoosiers should know that this is the exact reason why we were so fiscally prudent year after year after year after year,” he says. “When I said we were going to war with this, that wasn’t rhetorical, I didn’t say it for effect. We weren’t trying to amass a surplus for a bumper sticker slogan, it was for this day.”

Holcomb says it’s too soon to say exactly how he would use state surplus dollars. He wants to wait until after the latest federal stimulus package is finalized and distributed.

Contact Samantha at shorton@wfyi.org or follow her on Twitter at @SamHorton5.

This is a rapidly evolving story, and we are working hard to bring you the most up-to-date information. However, we recommend checking the websites of the Centers for Disease Control and Prevention or the Indiana State Department of Health for the most recent numbers of COVID-19 cases.