House GOP reveals Trump’s tax breaks for tips, overtime and car loans
Overall, the package is touching off the biggest political debate over taxes, spending and the nation’s priorities in nearly a decade.
Taxes
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IBJ Podcast: Inside the Legislature’s wild session on tax breaks, hospitals, IEDC and more
Three journalists who covered the budget-writing session recap the twists and turns of the four-month assembly as lawmakers locked bumpers over ways to save Hoosiers money and hit a revenue sinkhole.
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Some local governments are slowing spending as lawmakers debate property tax cuts
The bill would reduce property taxes—and therefore reduce local government revenue—by about $1.4 billion over three years, according to the bill’s fiscal plan.
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Senate lawmakers scale back Braun’s ambitious property tax proposal in heavily amended bill
The 93-page amendment to Senate Bill 1 introduced Tuesday scrapped an expanded homestead deduction and tax bill caps, which offered the bulk of the plan’s homeowner relief but threatened local government funding.
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Bill proposing continued income tax rate cuts passed by committee
Hoosiers would see the percentage of their income the state takes for taxes continue to decrease under a bill progressing through the Indiana House.
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Articles
Tech industry warns investment pledges hinge on research tax break
Major tech companies lobbying to salvage a tax deduction for research and development say they might pull back from high-profile pledges of new U.S. investments if Congress doesn’t fully reinstate the break.
Inflation cools and Americans step up spending
The slowdown in inflation could be a temporary respite as the widespread tariffs are expected to push up prices in many categories.
Indiana Legislature adopts tight budget with cigarette tax hike, widespread cuts
The Indiana Legislature approved a pared-down $46.2 billion state budget bill early Friday morning that will triple the state’s cigarette tax and cut funding for a wide swath of entities and programs.
Braun, Legislature plan to raise cigarette, tobacco taxes to fill budget gap
To further close the gap, leaders also said they would reduce planned spending for public health, higher education and government agencies.
Tariffs create uncertainty for merger and acquisition activity
The impact of the tariffs also has extended to merger and acquisition activity, with M&A attorneys trying to keep pace with Trump’s starts, stops and pauses.
Braun OKs future state income tax cuts contingent on unlikely revenue growth
In order for the decreases to kick in, the legislation stipulates that the state’s revenue must hit certain growth benchmarks.
Trump administration to end IRS Direct File program for free tax filing, sources say
The program developed during Joe Biden’s presidency was credited by some with making tax filing easy, fast and economical, while others said it was frequently difficult to use.
With after-midnight vote, Indiana Senate sends property tax bill to governor
The high-profile property tax legislation has been criticized both for not providing enough homeowner relief and for reducing revenue for local governments.
Beckwith calls on Braun to veto property tax bill: ‘NOBODY understands this thing’
Indiana Gov. Mike Braun is expected to sign the latest version of Senate Bill 1, which supporters say would provide more than $1.4 billion in property tax relief over three years. Critics of the bill say local governments will raise income taxes to make up the difference.
Indiana House Republicans OK massive local property, income tax plan that Democrats dub a ‘scam’
House Democrats accused their GOP colleagues of strong-arming local units of governments into raising local income taxes to make up property tax revenue losses.
House increases homeowner relief in property tax compromise with Braun
The governor and legislative leaders have for weeks gone back and forth on the key components of Senate Bill 1.
House committee advances reworked property tax plan, but hurdles remain
Indiana House Republicans’ property tax reform proposal passed out of committee Monday morning, but demands from Gov. Mike Braun and some Republicans for even more relief could complicate the bill’s future.
Senate takes a crucial step toward extending Trump tax cuts
The framework now moves to the House, which must pass it before lawmakers can start working on the bill itself.
House property tax plan would mean lower bills for most homeowners, big changes in system over time
To achieve immediate tax relief, the plan would create a credit worth up to $200 on all homeowners’ property tax bills beginning in 2026.
China to impose a 34% tariff on imports of all US products
The new tariff matches the rate of the U.S. “reciprocal” tariff of 34% on Chinese exports that President Donald Trump ordered this week.
Removal of tax loophole may make Shein, Temu orders more expensive
President Donald Trump on Thursday revoked a nearly century-old tax loophole that saved companies from paying tens of billions of dollars in fees on cheap imports, most of which come from China.
Report: GM to increase production, add jobs at Fort Wayne plant
The Fort Wayne plant produces the Chevrolet Silverado 1500 and GMC Sierra 1500 trucks, with about 1,300 units produced each day, according to the automaker’s website.
Indiana Senate committee turns four local tax bills into one
A jam-packed agency bill became even more behemoth and wide-reaching on Tuesday after a Senate committee crammed in dozens of other provisions that largely deal with local taxes.
In recruiting battle, lawmakers weigh whether to give college athletes tax break on NIL earnings
At least four states are considering giving college athletes tax breaks on endorsement income.