Indiana House Approves $1 Billion Tax Cut for Businesses and Hoosiers
Friday, January 21, 2022
The Indiana House approved a tax cut package Thursday that will eventually cost the state $1 billion a year in revenue.
The bill, HB 1002, includes a mixture of business, utility and individual income tax cuts. The income tax cut would eventually save a Hoosier household making $56,000 a year about $128 in taxes.
the measure's future isn’t clear as it advances to the opposite chamber. Senate GOP leaders have expressed reluctance to make significant revenue decisions this year, wanting to wait until next year’s budget session.
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