INDIANAPOLIS (AP) — Indiana’s surging tax collections over the past year have pushed state government’s budget surplus up more than 50% to about $6.1 billion.

The jump from last year’s record high of $3.9 billion in cash reserves announced Friday comes as the Republican-dominated Legislature is set to soon consider a proposal from Gov. Eric Holcomb for distributing $225 payments to taxpayers for what he calls “inflationary relief.”

“Indiana’s economy is growing at an unprecedented rate due to the lowest unemployment rate in state history, higher-than-expected income tax revenues and growing our state’s GDP at a faster rate than the national average while meeting the essential needs of Hoosiers. I have called a special session to return $1 billion to taxpayers because it can’t wait until next year as we all face rising inflation costs. I plan to present a biennium budget that will address more support for our public health system, salary increases for state employees, additional funding in K-12 education and another round of funds dedicated to the READI program to help local communities improve their overall quality of life. I want to thank state fiscal leaders for their continued fiscal diligence that will benefit Hoosiers for years to come.”

Indiana Governor Eric Holcomb

The proposed payments could cost the state about $1 billion, but Holcomb has said they are affordable. Democrats have questioned the helpfulness of the state payments because of slow distribution and have pushed for suspending Indiana’s 62 cents-per-gallon in gasoline taxes, saying that would provide more immediate relief.