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Indiana senator set to propose lower corporate tax

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An Indiana senator wants to lower the state's corporate income tax from 8.5 percent to 5 percent.

Republican Sen. Brandt Hershman of Lafayette, who chairs the Senate Tax Committee, says Indiana already has a relatively low cost of doing business, but that the corporate income tax is seen as a hindrance to job creation because it is one of the highest in the Midwest. He says lowering the corporate income tax would make the state a more attractive place for companies.

Hershman told IBJ in December that he planned to file a bill to lower the corporate tax rate, but at the time was still uncertain about how much of a cut to propose.

The nonpartisan Legislative Services Agency is working to determine how much the state might lose if it lowered the tax rate. Hershman says there will be an up-front cost to the state but believes other parts of the legislation can help offset that price tag without raising taxes elsewhere.

Indiana only weighs a single factor—a company’s sales—in the formula that determines the income taxes the company pays. But the state’s 8.5-percent rate exceeds that of neighbors such as Illinois, Ohio, Kentucky, Michigan and Wisconsin.

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  • Lower Than China?
    How much more can you
    lower corporate taxes,
    raise corporate incentives, and,
    essentially,
    give away the store?

    Keep this up and maybe a reduction of the minimum wage will be in order to compete with foreign competition.

    How low can we go to sell out, create
    waste, sprawl, and abuse of our citizen workers and our environment?

    How about proposing an individual income tax elimination and home property tax elimination for 5 years? The economy would boom!

    Corporations have had their bail-out.
    Sen. Hershman and his
    partners-in-corporate-caretaking
    may want to visit some homes around Indiana
    before attending their next Chamber of Cocktails fundraiser.

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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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