Gov. Mike Pence’s plan to eliminate the tax on business equipment would mean significantly higher taxes for other property owners if the state took no specific action to protect them, according to a new analysis.
Under the proposal, taxpayers benefiting from the federal adoption credit would be able to claim an additional credit on their state return.
Pence says international trade is vital to Indiana’s economic growth and fiscal prosperity. In 2012, Indiana exported $34.4 billion to countries around the world.
Indiana’s fiscal picture is looking good with about $2 billion in cash reserves and a strong credit rating, but the next few years could leave the state in a fiscal pinch.
Talking to entrepreneurs at a center for business start-ups, Pence said the state can’t compete with its neighbors for private investment without eliminating the personal property tax on business equipment.
Republican Gov. Mike Pence and his team are likely to run into time and space constraints if they push a broad agenda during a short session of the General Assembly.
The previous auditor, Dwayne Sawyer, announced his resignation last month – effective Sunday – after just three months on the job.
Indiana is among 15 states competing for a $10 billion Boeing airplane manufacturing and assembly facility that could employ up to 8,500 workers by 2024.
A proposal to phase out Indiana's property tax on business equipment and machinery has many local government leaders concerned about another big revenue hit.
The mayors of Indianapolis, Fort Wayne, Evansville, South Bend and Hammond were among those expressing opposition.
Indiana Gov. Mike Pence plans to spend his second meeting with the General Assembly advancing a legislative agenda centered on expanding the number of charter schools, finding ways to pay for road projects and seeking new tax cuts.
Mike Pence asked a national school boards group to step into an ongoing power struggle with Indiana Schools Superintendent Glenda Ritz on Friday, an offer she said was meaningless unless he deals with her directly.
Ruble became interim commissioner in September after Sean Keefer moved to the governor's office to serve as Pence's chief lobbyist.
Economists and politicians on both sides of the aisle have argued for years that streamlining government in Indiana could save millions of dollars, but vested interests and fear of change have stymied real reform.
Democrat John Gregg has decided not to make a second run for Indiana governor following a close campaign for that office last year.
The $2.7 million agreement will keep the Hoosier State passenger rail service between Indy and Chicago operating for one year.
Luke Bosso, a Republican, and Debra Kunce, a Democrat, will join the five-member board.
The state is appealing a Marion County judge's ruling last year awarding $52 million to IBM after then-Gov. Mitch Daniels canceled what was a 10-year, $1.37 billion contract.
The Indiana education overhaul associated with Tony Bennett and then-Gov. Mitch Daniels actually was crafted in private by a handful of state GOP bigwigs, including Al Hubbard, Mark Miles and Mark Lubbers, according to emails obtained by the Associated Press. Elected officials weren’t included for months.
Gov. Mike Pence challenged members of the Kiwanis Club of Indianapolis to encourage out-of-state entrepreneurs to consider building their businesses in Indiana.
