With new tax cuts just put into the books, are you wondering how inflation will affect Indiana’s financial picture? This analysis below, prepared by the Indiana Fiscal Policy Institute (IFPI), provides an excellent insight to the possible impacts: The U.S. Bureau of Economic Analysis recently announced the latest Personal Consumption Expenditures (PCE) Price Index. The Fed’s preferred barometer for inflation policy hit [...]
(INDIANAPOLIS) — Indiana Chamber of Commerce President and CEO Kevin Brinegar says the 2022 Indiana General Assembly concluded “overall in a good place for the rights of businesses, for the state’s economy and for talent attraction and growth. But the Senate’s failure to support a tax cut that would strengthen the state’s manufacturing sector is a head-scratcher given Indiana’s [...]
Our long-time vice president Bill Waltz is set to retire from the organization on June 30. Bill has expertly led the Chamber’s tax and public finance lobbying efforts for the last 18 years. For over 10 years, he has also been our wise general counsel. I’m thrilled for Bill as he enters this next stage in life, but he will [...]
(INDIANAPOLIS) — Long-time Indiana Chamber of Commerce Vice President Bill Waltz is set to retire from the organization on June 30. Waltz has led the tax and public finance lobbying efforts for the Indiana Chamber for the last 18 years. “I’m thrilled for Bill as he enters this next stage in life, but he will be especially missed by [...]
(INDIANAPOLIS) — The Indiana Chamber of Commerce is calling on Indiana Senate Majority Republicans to restore the tax reductions in House Bill 1002 that would benefit all taxpayers. In a recent committee meeting, the Senate group removed all the tax relief from the legislation, which is a top priority of House leadership and the business community. Indiana Chamber President [...]
Two bills that deal with business personal property taxation were killed last week by virtue of not receiving a vote before the committee deadline: SB 150 (Business Personal Property Tax Exemption), authored by Sen. Aaron Freeman (R-Indianapolis), and SB 378 (Assessment of Business Personal Property), authored by Sen. Brian Buchanan (R-Lebanon). These measures were heard by the Senate Tax [...]
House Bill 1002 is the House Republican comprehensive tax proposal. The Chamber gave its enthusiastic support for this bill last week, citing the many important gains to be realized by removing what are among the few remaining blackmarks on our tax code. Here's why: It includes the Chamber priority of phasing out the 30% minimum valuation depreciation floor on [...]
(INDIANAPOLIS) — Governor Eric Holcomb unveiled his 2022 legislative agenda Monday, highlighted by a goal to eliminate the 30% business personal property tax on new equipment. This would indeed enable Indiana to compete with neighboring states with lower taxes. The measure is now part of House Bill 1002 – authored by House Ways and Means Chairman Rep. Tim Brown [...]
Indiana’s October revenue collections report from the State Budget Agency provides an abundance of charts and numbers. If you focus on just the small chart at the bottom of the second page, you will see the simple numerical evidence that our revenues are strong. Four months into the fiscal year, and for the first year of the two-year budget, Indiana’s [...]
If you’re interested in corporate taxes or you’ve been paying attention to world economic news, you’ve heard talk of developments regarding the possibility of a “global minimum tax.” It’s not really a new concept but it has been getting a lot of high-level discussion recently. President Biden and his Treasury Secretary Janet Yellen are promoting a complicated proposal developed [...]
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