Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, February 19, 2013
(UNDATED) - With the House putting off discussion of a proposed income-tax cut, the Senate will dive into the debate instead.
A Senate committee will take up a tax cut authored by Kokomo Republican Jim Buck.
Instead of the two-year phase-in Governor Pence proposes, Buck would phase it in over four. He says that would give legislators a chance to halt the tax cut if the economy sputters -- or speed it up if Indiana takes in more money than expected.
And while Pence picked a round number for the size of the cut, Buck picked a round number as its endpoint. His bill would slice a tenth of a point off the tax rate each year, to wind up at an even three-percent. That makes the cut slightly larger than Pence's 10-percent cut.
Pence says he won't stop pressing for a tax cut -- he notes neighboring Ohio is among the states considering tax cuts, with others having passed them already.
Ways and Means Chairman Tim Brown (R-Crawfordsville) says there will be time to consider a tax cut after an updated economic forecast in April gives legislators a more precise idea of how much money they have to work with.
1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at firstname.lastname@example.org
© Ad-Venture Media, Inc. All Rights Reserved.
Click here to go back to previous page