Three money-making bills that died in a tight budget year
But House Speaker Todd Huston, R-Fishers, has said repeatedly that Indiana lawmakers don’t make policy simply to raise money.
Taxes
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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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IBJ Podcast: Pete the Planner on Trump’s second term, rising inflation and the impact of the LA wildfires on housing
IBJ columnist Pete Dunn outlines the challenges of rising inflation, stubbornly high costs for consumer goods, the meandering stock market, mass deportations and what could be the biggest economic story of 2025.
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Articles
Gov. Mike Braun threatens to veto property tax bill, call special session if more cuts aren’t added
Senate Bill 1, which previously carried Gov. Mike Braun’s ambitious property tax relief plan, was pared down significantly in committee following outcry from local government leaders.
UPDATE: Braun says Senate-passed property tax bill ‘has a long way to go’
The Senate-approved tax bill would limit total growth in property tax revenue, which could reduce individual bills. But the Republican governor said the legislation lacks “meaningful tax cuts.”
Musk’s DOGE seeks access to personal taxpayer data, raising alarm at IRS
The news comes as roughly 150 million taxpayers prepare to file returns by the April 15 deadline.
Tariffs could reach deep into manufacturing-heavy Indiana
While consumers across the country could pay higher prices on all sorts of goods, Indiana’s economy is especially vulnerable to the uncertainty from tariffs and retaliatory tariffs between nations, economists say.
Uncertainty over impact of tariffs leaves aftermarket manufacturer anxious
Anderson-based StagUSA Services Inc. manufactures aftermarket products allow vehicles to run on alternative fuels like compressed natural gas and propane. The company imports propane tanks from Mexico and other components from Poland.
Nashville distiller says Trump policies may present new opportunities
When the Trump administration announced tariffs on Feb. 1 for most Canadian, Mexican and Chinese goods, Hard Truth Distilling Co. co-owner Jeff McCabe was worried but said his Indiana whiskey producer will be fine.
Portage plastics parts maker fears trade ‘chaos’
Konrady Plastics Inc. CEO Leah Konrady says President Trump’s trade proposals are creating uncertainty.
Local leaders sound alarm on Braun’s property tax overhaul legislation
Republicans and Democrats testified the bill would decrease local governments’ revenues significantly and affect the quality of some public services.
Trump says Americans could feel ‘some pain’ from tariffs as he threatens more import taxes
President Trump on Sunday night returned from Florida and threatened to impose steeper tariffs elsewhere, telling reporters that the import taxes will “definitely happen” with the European Union and possibly with the United Kingdom as well.
Westfield seeks state support for taxing district near Grand Park
The city will need state legislators to amend existing rules for professional sports and convention development areas for one to be created at Grand Park Sports Campus.
Trump says 25% tariffs on Canada, Mexico coming Feb. 1
President Trump also signed a directive telling federal agencies to conduct a 30-day review of how they can help to lower the costs of housing, health care, food, energy and home appliances as well as finding ways to bring more people into the workforce.
IRS sending out automatic stimulus payments. Here’s who’s getting them.
The IRS is distributing about $2.4 billion to taxpayers who didn’t receive their COVID stimulus payments. By the end of January, about 1 million taxpayers will receive special payments of up to $1,400 from the IRS.
IRS has improved taxpayer services but has been slow to resolve ID theft, independent watchdog says
IRS Commissioner Daniel Werfel said the agency is seeing higher numbers of theft victims overall since before the pandemic, in part because scammers are increasingly moving to online schemes.
Lawmakers ready tax legislation ahead of session prime for reform
Policymakers have proposed at least 12 bills seeking to create or adjust property tax credits or deductions and institute freezes.
Lawmakers preview property tax policy at legislative conference
Senate Tax and Fiscal Policy Chair Travis Holdman, R-Markle, said his caucus is ready to introduce between 12 and 15 bills that will affect property taxes.
Braun outlines first policy agenda with focus on tax relief, government efficiency
Indiana Gov.-elect Mike Braun’s “Freedom and Opportunity Agenda” also addresses his goals for economic development, public health and quality of life factors like public safety, energy affordability and water cleanliness.
Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in office
The tariffs, if implemented, could dramatically raise prices on everything from automobiles to agricultural products. It is unclear whether Trump will actually go through with the threats or if he’s using them as a negotiating tactic.
Rising price of paying national debt complicates Trump’s promises on growth, inflation
Not only is the federal debt at roughly $36 trillion, but the spike in inflation after the coronavirus pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security.
Two-year tax task force releases property, income and business recommendations
Democrats assailed the recommendations as not providing enough relief to Hoosier taxpayers, and for giving “handouts” to businesses.