WKU Public Radio News Staff
Mon December 10, 2012
Income Tax Showdown Could be on the Horizon in Indiana
Despite the fact Republicans control the Indiana Governor’s mansion, House, and Senate, a standoff appears to be brewing over Governor-Elect Mike Pence’s plans to cut income taxes. Pence takes office January 14th, and is admitting he has no budget experience at the state level.
However, Pence is a conservative Republican and a veteran of some bruising federal budget battles over his eleven years in the U.S. House. The Columbus, Indiana native has promised that pushing a 10% income tax cut will be his top legislative priority next year.
But a powerful fellow Republican, House Speaker Brian Bosma, has warned that such a cut may not be possible in 2013, given the fact that Hoosier State lawmakers recently cut other taxes. The Courier-Journal reports Bosma says those in charge of writing the state’s budget are just now working those previous reductions into Indiana’s spending blueprint.
late last week Governor-Elect Pence told members of the Indiana Chamber of Commerce that the state is sitting on a two-billion-dollar budget surplus—something that justifies his wishes to cut income taxes by 10%.