Indiana House Republicans have released a state spending plan that proposes accelerating tax cuts and the expansion of the private school voucher program.

The proposal includes a boost of $700 million, or 8.5%, in K-12 school funding, with $250 million of that increase going towards raising the income limit to qualify for state money towards private school tuition.

The House GOP plan would accelerate individual income tax rate cuts approved a year ago, with the current rate of 3.15% sliding down to 2.9% in 2026, three years earlier than currently scheduled.