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Daniels, Ballard to Unveil CIB Plan at 3:30 p.m.

Governor Mitch Daniels and Indianapolis Mayor Greg Ballard are expected to unveil their plan to solve the Capital Improvement Board’s $47 million shortfall this afternoon at 3:30 p.m. at the Statehouse.

There are no new broad-based taxes and the plan relies heavily on cuts and “creative” revenue streams, but I am hearing the plan may not fully solve the CIB’s funding problems if the economy continues to stay south; revnues were down 8-percent last year which could leave a $10 million shortfall.

I’ll blog more later today.

Posted: 06|4|09 at 6:32 am by Abdul Hakim-Shabazz
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  • http://www.ogdenonpolitics.com Paul K. Ogden

    Dang, I left “no broad-based taxes” off of my CIB bingo card.
    .
    I’ve never found particular industry taxes somehow better and often think they are even worse kind of tax.

  • Dave

    That alliterative,” no broad-based taxes,” has a “read my lips,” “no controlling legal authority” or “definition of ‘is’ is,” subliminal quality to it.. So, Hoosiers or their friends in the form of visitors (people we welcome & consider friends), are going to pay more in taxes? More tax (people & corporations made of people, paying a greater share of their income and / or savings & assets); welcome mat or exit ramp policy?

  • Think Again

    I think there’s something wrong with your math, or tha math of whomever is feeding you information.

    If an 8% shortfall equals $10 million, that means their annual budget is $125 million or so. Is that correct?

    Not that it matters a whole lot, but…as a piddly taxpayer, I’ve never thought the whole CIB thing was accurately and properly explained. Throwing around rogue figures only complicates things.

    And if they’re just kickign the can down the road, instead of a true cure, then save the Special Session dollars and go back to the drawing board.

  • Nick

    Sounds like the state will be taking over the CIB when it is restructured with local/regional/state funding.

    The unanswered part is what are the Pacers and Colts contributing?

  • mike

    its been answered, nothing, zip ,denada no csh

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