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Legislature ends session by cutting income taxes, not business personal property tax
The plan would cut the income tax rate to 3.15% from 3.23% for 2023, which would amount to a $40 savings for those with $50,000 in taxable income. The tax rate would be cut further in 2025, 2027 and 2029, but only if state tax revenue grows by at least 2% in the previous budget year.
McDonald’s, Starbucks, Coke, Pepsi join exodus out of Russia
The global brands all announced Tuesday they were temporarily suspending their business in Russia in response to the country’s invasion of Ukraine.
State legislators approve repealing gun permit requirement
The bill’s provisions would allow anyone age 18 or older to carry a handgun in public except for reasons such as having a felony conviction, facing a restraining order from a court or having a dangerous mental illness.
Indiana lawmakers give final OK to economic development updates
The measure heads to Gov. Eric Holcomb, who made modernizing the state’s economic development toolkit a top legislative priority and is expected to sign the bill into law in an effort to help the state be more nimble when recruiting new business.
Focus of Big Ten Tournament: Howard’s return, Davis’ health
Likely of more interest to local fans is whether Indiana University can play its way into an NCAA tournament bid after losing seven of its last nine games or whether Purdue can earn a favorable seed in the postseason.
Congress passes bill to shore up Postal Service, delivery
Congress mustered rare bipartisan support for the Postal Service package, dropping some of the more controversial proposals to settle on core ways to save the service and ensure its future operations.
Local specialty chemicals firm lands $4.6M in funding round
MITO Material Solutions Inc. said it will use the investment to expand its Indianapolis operations, including new lab space for developing products and new composite material technologies.
Appeals court rules convicted CEO doomed by evidence, not by attorney’s conflict of interest
Former CEO James Burkhart pleaded guilty in January 2018 to a scheme in which vendors working for American Senior Communities inflated invoices and kicked back profits to Burkhart and other company officials.
Indiana lawmakers near deal on multiyear income tax cut
The tax cut package was a major remaining issue as the Republican-dominated Legislature looked to possibly finish this year’s session on Tuesday.
Fever trade McCowan to Wings, giving team four first-round WNBA picks
The Fever got the fourth and sixth overall picks from the Wings in the deal announced Tuesday. Indiana already had the Nos. 2 and 10 picks, and would be the first WNBA team to make four first-round picks in the same draft if it keeps and uses all of them.
Developer of timber-built office project in Broad Ripple seeks abatement
The project would occupy four parcels between 6407 and 6419 Ferguson St., which are occupied by four residential-style buildings that have housed short-term rentals and small businesses.
Indoor vertical farm plans $70M facility, 120 jobs in Indiana
The company said the new location will allow it to expand its bagged salad and salad kit offerings to retailers and consumers throughout the Midwest and mid-south regions.
U.S. banning Russian oil imports as Biden warns of ‘costs’
The average price for a gallon of gasoline in the U.S. hit a record $4.17 Tuesday, rising by 10 cents in one day, and up 55 cents since last week, according to auto club AAA.
Ganassi, PNC Bank launch Women in Motorsports campaign
Women in Motorsports will feature both a video content series showcasing female industry leaders and an internship program designed to create opportunities in motorsports for women.
Webster’s Sporting Goods acquired by Distinct Images
Webster’s Sporting Goods, founded in 1972, has moved from its longtime location at 5060 E. 62nd St., just off Binford Boulevard, to Distinct Images’ location at 6830 Hawthorn Park Drive, near Binford and 71st St.
IU athletes gain avenue to use NIL to support not-for-profit groups
Hoosiers For Good Inc. plans to partner with dozens of organizations across the state and help them connect with “community-minded athletes” at Indiana University to amplify fundraising, awareness and volunteerism efforts.
Speedway’s economic development director heading to McCordsville
During his tenure, Tim Gropp oversaw multiple major projects for the town, including the recently-opened Allison Transmission Innovation Center, the Abel Motorsports building and the $50 million Founders Square development.
Biden executive order on cryptocurrency expected this week
President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded.
Public transit systems getting $3.7B, with $51M heading to IndyGo
Agencies are expected to use the money to prop up day-to-day operations, including staffing and payroll as well as cleaning and sanitization to limit the spread of illness in public transportation.
