House Republicans blocked a vote Thursday on Gov. Mike Pence's proposed tax cut, fending off — at least for now — an attempt by Democrats to force them into the awkward position of rejecting one of the new GOP governor's top legislative priorities.
A pair of Republican senators argued Tuesday for the personal income tax cut that Indiana Gov. Mike Pence has made his top priority, while House Republicans across the hall advanced a budget that swaps that cut for education and roads spending.
The Indianapolis Motor Speedway will need far more money than it will get from a proposed state tax subsidy if it hopes to be in the top tier of U.S. racing venues, sports business experts said.
A report by the Indiana University Public Policy Institute and Indiana Fiscal Policy Institute recommends streamlining the system.
Not-for-profit-sector lobbyists are fighting President Obama’s proposal to limit the tax deduction for charitable donations. Yet some local fundraisers who could be affected by it aren’t concerned.
A drop in local income-tax revenue could put Indianapolis Mayor Greg Ballard between a familiar political rock and hard place as he faces re-election. Next year’s budgets must be approved in October, when Ballard’s race with Democratic challenger Melina Kennedy will be in the home stretch.
Governor, economic development officials look to lure companies to Indiana that now may find doing business in Illinois too costly. But a few experts question whether the state will see any immediate benefits.
The State Department of Revenue estimates the change will affect about 1 million taxpayers and save the state about $200,000 in the next fiscal year.
Dwindling tax revenues will cause a projected $1.3 billion budget gap as the state enters its next budget, according a report released Thursday by the Indiana Fiscal Policy Institute.