Indiana Senate Republicans unveiled their $36 billion two-year state budget proposal Thursday making a number of changes to the Houses K-12 funding plan and focusing heavily on one-time spending.

A proposed expansion of Indiana's private school voucher program would be scaled back under the new state budget plan from state Senate Republicans, while still boosting the program's spending by about 25 percent.

Hoosiers got likely their last chance this session to testify on the new, two-year, $36 billion state budget Thursday.

Indiana House Republicans want to spend at least $65 million less on traditional K-12 schools in their state budget plan than Gov. Eric Holcomb proposed.

Gov. Eric Holcomb's state budget proposal is receiving mixed reviews from education groups.

Many school leaders feared the state's education budget approved by lawmakers in 2019 would be cut back in light of revenue shortfalls spurred by the COVID-19 pandemic.

Officials say they expect a $1.7 billion shortfall this fiscal year (which ends in two weeks) and another roughly $2 billion loss next fiscal year.

At a press conference Wednesday, Gov. Eric Holcomb said the state's budget for K-12 schools approved by lawmakers in 2019 will remain on track, despite revenue shortfalls spurred by the COVID-19 pandemic.

Perhaps $1 billion will have to be spent from the state's $2.3 billion in cash reserves to get through the budget year that ends June 30, Gov. Eric Holcomb said Friday.

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