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State legislators debate how to spend budget surplus

2020 is not a budget year at the statehouse, but legislators will be debating some new spending anyway.

In the two months between the passage of the state budget and the end of the last fiscal year, the state collected about $300 million more than expected.

Governor Holcomb wants to spend that money on five construction projects for which the state would otherwise have floated bonds.

Democrats argue the windfall on top of a $2 billion surplus means the state could give teachers a five-percent raise.

Indianapolis Senator Greg Taylor says instead of trying to avoid floating bonds, the state should be embracing the idea while interest rates are low.

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