(INDIANAPOLIS) — Indiana Chamber of Commerce President and CEO Kevin Brinegar comments on the passage of Senate Bill 2, which was signed today by Gov. Eric Holcomb.
“This is a critical piece of legislation, and we express our gratitude to the state Legislature for advancing it so quickly and Governor Holcomb for signing Senate Bill 2 into law,” Brinegar says. “The more than half-million business owners who are eligible for this tax relief now have certainty as they prepare to file their 2022 returns. That relief is estimated to exceed $100 million and will not impact state revenues.
“Senate Bill 2 has been a top priority for the Indiana Chamber, and we applaud all those who made contributions towards its enactment.”
Authored by Sen. Scott Baldwin (R-Noblesville), the bill focuses on reducing federal tax burdens on businesses. Namely, the state and local tax (SALT) deduction would provide federal tax relief to most Hoosier businesses (pass-through entities) in Indiana.
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The Indiana Chamber partners with 25,000 members and investors – representing over four million Hoosiers – to achieve the mission of “cultivating a world-class environment which provides economic opportunity and prosperity.”
