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updated: 12/20/2013 8:05 AM

Terre Haute mayor pans business tax phase-out plan

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Associated Press

TERRE HAUTE, Ind. -- Gov. Mike Pence's proposal to phase out Indiana's business personal property tax already is drawing criticism from a fellow Republican.

Terre Haute Mayor Duke Bennett says Pence hasn't given any specifics on making up the $1 billion that the tax brings in statewide. The tax generates revenue for local governments, including about $5.5 million for Terre Haute. Nearly $7 million more goes to surrounding Vigo County, its schools and libraries.

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After weathering $9 million in cuts because of property tax caps, Bennett tells WTHI-TV that Terre Haute simply can't function if it suffers more revenue cuts.

Pence said Wednesday he's committed to working with members of the General Assembly to ensure that phasing the tax on equipment and machinery out doesn't create hardships for local communities.

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