Trump threatens to hike tariffs on South Korean goods over inaction on trade deal
South Korean Industry Minister Kim Jung-Kwan, who is currently visiting Canada, will soon travel to the U.S. for talks with Secretary of Commerce Howard Lutnick.
Taxes
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IBJ Podcast: Inside the Legislature’s wild session on tax breaks, hospitals, IEDC and more
Three journalists who covered the budget-writing session recap the twists and turns of the four-month assembly as lawmakers locked bumpers over ways to save Hoosiers money and hit a revenue sinkhole.
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Some local governments are slowing spending as lawmakers debate property tax cuts
The bill would reduce property taxes—and therefore reduce local government revenue—by about $1.4 billion over three years, according to the bill’s fiscal plan.
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Senate lawmakers scale back Braun’s ambitious property tax proposal in heavily amended bill
The 93-page amendment to Senate Bill 1 introduced Tuesday scrapped an expanded homestead deduction and tax bill caps, which offered the bulk of the plan’s homeowner relief but threatened local government funding.
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Bill proposing continued income tax rate cuts passed by committee
Hoosiers would see the percentage of their income the state takes for taxes continue to decrease under a bill progressing through the Indiana House.
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Articles
Senate committee approves 1-year state tax cut for overtime, tips
Lawmakers will decide during budget negotiations in 2027 whether to make it permanent.
Indiana set to opt out of some of Trump’s federal tax cuts
Republican fiscal leaders, however, haven’t said which of the dozens of other new federal tax cuts—including the temporary deductions for workers who receive tips and overtime wages—will be extended to state taxes.
US-based multinational companies to be exempt from global tax deal
The amended version excludes large U.S.-based multinational corporations from the 15% global minimum tax after negotiations between President Donald Trump’s administration and other members of the Group of Seven wealthy nations.
Indiana lawmakers to weigh joining Trump’s tax cuts
Legislators would likely need to act quickly to enact any tax breaks for 2025 before individuals and businesses begin filing their tax returns.
Five topics that could shape state lawmakers’ work in 2026
There are a slew of topics legislators plan to tackle in 2026, including rising energy costs, tax codes, child care and education, and possibly a new casino in one of Indiana’s urban centers.
Costco sues Trump administration over tariffs, seeks full refund
Costco joins dozens of other companies including motorcycle manufacturer Kawasaki and canned foods maker Bumble Bee that have filed suits seeking tariff refunds.
Indiana cigarette consumption down, cessation program enrollment up after tax hike
The boost to a nearly $3-a-pack tax on cigarettes went into effect July 1 is already bringing in significantly more tax revenue.
Brazilian coffee, beef and tropical fruit will still be tariffed 40%, says Brazil’s vice president
Although President Trump removed one layer of tariffs last week, a 40% tariff remains in place, according to Brazilian Vice President Geraldo Alckmin.
Matt Greller: Tax reform must complement, not undermine, fiscal health
When revenue growth is compressed and uncertainty grows, the result is predictable.
Mayor Sue Finkam: Property tax reforms in SEA 1 are far from perfect
Hoosiers move to Carmel and other growing Indiana cities not despite our spending but because of it.
Terry Spradlin: Indiana tax reform threatens schools, communities
Undermining education undermines Indiana’s prosperity.
Rep. Todd Huston: Homeowners frustrated with rising property tax bills
We’re simply asking local units to do exactly what state government and families across Indiana have had to do–live within our means.
Stephanie Wells: Reform could improve state’s tax competitiveness
It’s important to consider our tax burden relative to that of other states that compete with us for talent and investment.
Mayor Scott Willis: SEA 1 cuts into city revenue for essential services
It becomes harder to guarantee that emergency help arrives when people need it most.
Sen. Travis Holdman: Reform is a balancing act that needs time to play out
An overhaul of SEA 1 should not be expected.
Avon voters approve school tax renewal despite Beckwith opposition
The decision came as communities in four other Indiana districts also approved school tax questions in special elections.
Trump tariffs face Supreme Court test in trillion-dollar test of executive power
President Trump has called the case one of the most important in the country’s history and said a ruling against him would be “catastrophic” for the economy.
Indiana hardwood companies sign letter seeking tariff relief from federal government
Nearly two dozen Indiana hardwood businesses have joined hundreds of others nationwide in signing a letter to the Trump administration seeking direct relief from tariffs.
Beyond redistricting: Indiana’s special session to tackle tax update, too
Indiana lawmakers could use the upcoming special session not only to draw new legislative maps but also to head off what tax experts call impending “chaos” for taxpayers and businesses.