Cigarette, gas tax hikes coming to Indiana on July 1
The cigarette tax hike is the result of a last-minute compromise by Indiana legislators to address a projected revenue shortfall of $2 billion over the biennium.
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Some restaurants and servers oppose ‘no tax on tips’ budget proposal
The Independent Restaurant Coalition, which represents nearly 100,000 restaurant and bars, has appealed to Congress to reconsider the proposal, which is part of the president’s spending bill.
Smaller amusement parks hope for a strong summer under the shadow of tariffs
Some park owners fear ongoing economic uncertainty could keep families from traveling this summer, while tariffs could add extra costs for items like game prizes or parts for rides.
Trump’s tax bill could raise taxes on foreign companies, hurting investment from abroad
A new analysis estimates that the provision would cost the U.S. 360,000 jobs and $55 billion annually over 10 years in lost gross domestic product.
House Republicans pass Trump’s big bill after all-night session
Central to the package is the GOP’s commitment to extending some $4.5 trillion in tax breaks, as well as spending cuts and work requirements for Medicaid and nutrition assistance.
Trump’s big bill teeters as House conservatives demand more changes
House Republicans narrowly advanced the sprawling package in a rare weekend vote late Sunday, but just barely, as GOP leaders promise more negotiations ahead.
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.
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.