INDIANAPOLIS (WDRB) -- Indiana Gov. Eric Holcomb signed the state's new $32 billion, two-year budget on Thursday along with a bill hiking gasoline taxes by 10 cents a gallon. The gas tax will fund road projects. 

Holcomb was joined by several Republican legislative leaders for the Statehouse ceremony that comes less than a week after this year's General Assembly session ended.

The first-year Republican governor praised the budget plan approved by the GOP-dominated Legislature. That includes funding increases of about 1.7 percent for K-12 schools each of the next two years.

The road funding plan aims to pump an average of $1.2 billion more a year into infrastructure work, with money coming from the gas tax increase and new vehicle registration fees.

The state budget funds several priorities outlined in Gov. Holcomb’s Next Level legislative agenda in January, including incentives to increase the amount of venture capital in the state, regional economic development, pre-K expansion, double tracking the South Shore Line in northwest Indiana, pay increases for law enforcement officers and more. 

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