Pence Thursday signed legislation authorizing the release of $400 million for transportation projects.
A new state revenue forecast predicts Indiana will take in nearly $300 million less over the next 18 months than the legislature planned.
The project is estimated to take two years to complete.
The state collected $23 million more than anticipated last month, nearly 2 percent ahead of projections.
After two separate mistakes caused more than 500 million tax dollars to be misplaced, an independent audit of the state Department of Revenue will take place.
Economic advisors tell the State Budget Committee both the Indiana and U.S. economies will grow over the next couple of years, but that growth will be slow.
Luke Kenley says he approves of a recent decision by Indiana State University leaders to roll back a proposed tuition increase for next school year.
Governor Daniels' proposed budget flatlines almost all spending and cuts money to schools and higher education.
A forecast received Wednesday by the State Budget Committee offers little hope of economic growth in the near term.
The State Budget Committee heard more bad news Friday about the state’s tax revenue collections.