Governor Open To Replacing Revenue Lost From Business Tax
After meeting with more than a dozen mayors today, Governor Mike Pence says he would support replacing some of the money counties would lose if the legislature eliminates or reduces a tax on business equipment.
But the governor stopped short of saying where that replacement money would come from.
“After listening to local communities across our state, I have informed legislative leaders that I am open to full state replacement revenue for local governments to cover the cost of eliminating the business personal property tax on small businesses with less than $25,000 in equipment, as proposed in Senate Bill 1,” he said in a statement. “This would ensure that any reform of this tax does not unduly burden local governments or shift the cost of this tax onto hardworking Hoosiers.”