Holcomb's Proposed Budget Spends One-Time Money To Pay Down Debt, Not Direct Relief Article origination IPBS-RJC Gov. Eric Holcomb’s new state budget proposal would spend $1.13 billion over the next two years on one-time initiatives. Courtesy of the governor's office Gov. Eric Holcomb’s new state budget proposal would spend $1.13 billion over the next two years on one-time initiatives. And almost none of that would be direct relief for Hoosiers struggling during the ongoing COVID-19 pandemic. Holcomb administration officials call the state’s financial situation a “pleasant surprise” – Indiana budget reserves should return to pre-pandemic levels this year. And because of that, Office of Management and Budget Director Cris Johnston said the governor wants to prioritize one-time expenses – on items like paying down debt, broadband expansion and cash-funding a swine barn at the State Fairgrounds.