State sells plane, cuts higher ed. amid shortfall

State sells plane, cuts higher ed. amid shortfall

Credit: Getty Images

WASHINGTON, DC - DECEMBER 02: U.S. Rep. Mike Pence (R-IN) answers reporters questions during a news conference at the U.S. Capitol December 2, 2010 in Washington, DC. Pence and U.S. Sen. Jim DeMint (R-SC) introduced the Tax Relief Certainty Act, a bill that would permanently extend the Bush-era tax cuts to all Americans. (Photo by Chip Somodevilla/Getty Images)

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by Associated Press

WHAS11.com

Posted on December 9, 2013 at 4:47 PM

Updated Monday, Dec 9 at 4:47 PM

   INDIANAPOLIS (AP) -- Gov. Mike Pence is selling the state plane and asking state agencies to cut spending as the state deals with a surprise budget shortfall.
 
   State agencies will have to cut their budgets an additional 1.5 percent and state universities will see their state aid clipped by 2 percent as the state looks to make up a $141 million drop in tax collections. Pence said Monday the agency cuts and other moves should save the state about $57 million.
 
   The new shortfall has been spurred in large part by the loss of $63 million in tobacco settlement money. Indiana is one a handful of states to lose a portion of the 1998 settlement proceeds for not doing enough to collect funds from some tobacco companies.
 

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