Indiana cuts taxes by $1 billion while remaining fiscally strong

by Ryan Streeter on April 25, 2013. Follow Ryan on Twitter.

Every now and then I try to tell friends in other states why they should envy Indiana’s solid fiscal position. Governor Pence and lawmakers proved the point once again by agreeing on a roughly $1 billion tax cut package that did not raise taxes elsewhere in order to pull it off.

A number of other states that have advertised tax cut proposals lately have quietly tried to raise them elsewhere. Not in Indiana.

Governor Pence released this statement today:

“Today Hoosier taxpayers won a great victory. The agreement reached between our administration and legislative leaders will be the largest state tax cut in Indiana history. The combination of a 5 percent individual income tax cut, inheritance tax repeal and additional tax relief for businesses is the right tax relief at the right time and will give a much needed boost to working families, small businesses and family farms.

I am grateful for the leadership of Senate President Pro Tem David Long,  Speaker Brian Bosma and other key fiscal leaders for working diligently with our administration to craft this historic package of tax relief. Their efforts demonstrate the commitment of the General Assembly to put taxpayers first.”

  • M Berend