Breaking News Bar
updated: 2/25/2014 6:54 AM

Indiana House looks to restore business tax cut

hello
Success - Article sent! close
 
Associated Press

INDIANAPOLIS -- A panel of Indiana House lawmakers is set to consider a series of amendments that would overhaul the Senate-approved plan for cutting the state's property tax on business equipment.

The amendment comes amid a continuing back and forth between House and Senate budget leaders searching for a way to cut the state's business personal property tax without cutting into local budgets too deeply.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

Senate Republicans proposed eliminating the tax for small businesses, cutting the corporate income tax from 6.5 percent to 4.9 percent and eliminating various tax credits to offset most of the cost. But the House amendments would effectively overhaul the Senate plan to resemble the House-passed bill, which would allow counties to decide whether to cut the tax.

Senate Appropriations Chairman Luke Kenley has suggested the issue might need to be reviewed by a study committee after this year's legislative session before lawmakers take any action. But other lawmakers, including House Speaker Brian Bosma, R-Indianapolis, and Senate Tax and Fiscal Policy Chairman Brandt Hershman, R-Buck Creek, have said they expect at least some cut to be approved during the 2014 session.

Republican Gov. Mike Pence originally sought the elimination of the equipment tax, but trimmed back his request in the face of strong opposition among local government leaders, including many Republican mayors. The governor has said he is open to paying for any money lost by locals through the Senate proposal, but also said he would like to see the House plan pass.

A Pence spokeswoman said he wants at least some amount of tax cut to pass, instead of being stuck with no more than lawmakers studying the issue in a committee over the summer.

The House Ways and Means Committee is scheduled to debate the changes when it meets Tuesday morning.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.