INDIANAPOLIS (AP) — A state Senate committee is set to consider a series of proposed tax cuts for Indiana business.
The Senate Tax and Fiscal Policy Committee has scheduled a Tuesday hearing on a bill that would eliminate the state’s property tax on equipment for small businesses and cut the state’s corporate income tax.
The push comes as Republican Gov. Mike Pence calls for an unspecified cut in business taxes. The governor’s legislative agenda included a call to eliminate the business equipment tax. But Pence moderated his tone amid protests from localities, which would lose an essential source of income.
Pence’s budget chief told a House panel last week that the governor supports a House Republican plan to give counties the option of waiving the equipment tax on new investments.