Chamber Expects 'Incremental' Tax Cut ProgressPosted: Updated:
Despite sharp criticism from local officials, Governor Mike Pence and the Indiana business community are continuing to push for a phase-out of the state's business personal property tax. Indiana Chamber of Commerce Vice President of Economic Development and Federal Affairs Cam Carter says the organization believes the move would "remove the last remaining black mark" on Indiana's tax climate. Many local officials are worried the cut would eliminate about $1 billion in revenues from already cash-strapped communities. In a Studio(i) interview, Carter says he believes lawmakers will deal with the legislation in "incremental steps." Carter says the proposal would enhance Indiana's business-friendly reputation and make it one of the country's lowest-taxed states.
Indiana House Republicans unveiled their legislative agenda Wednesday. House Speaker Brian Bosma says he would like to see counties given the option to address the personal property tax.
Providing counties an option to address the personal property tax adds another tool to their toolbox that will provide them with more flexibility in how they attract new jobs," said Bosma. In his response, Democrat leader Scott Pelath (D-9) said the proposal would add "greater burdens to our middle class and struggling communities."
Sources: Indiana Chamber of Commerce, Inside INdiana Business