The White House recently unveiled President Joe Biden’s budget for fiscal year 2024 and it includes several proposals aimed at investing in infrastructure, economic development, workforce needs and education, as well as lowering health care costs. The budget plan also includes proposals for tax increases on businesses and individuals, which are particularly concerning to the Indiana Chamber. The budget [...]
https://www.youtube.com/watch?v=fkXR0lJviCo Politics and policy intersect in this edition of the IN Chamber podcast featuring David Ober. The former state lawmaker is now on the other side, with the 2023 legislative session his first as the Indiana Chamber’s tax expert. As we enter the second half of the Indiana General Assembly, Ober takes a look at some of the biggest [...]
Indiana Chamber President Kevin Brinegar was among invited guests in attendance at the Governor's signing of SB 2. Senate Bill 2 gained final approval from the House (98-0) last week and because it was unamended, it was submitted to Gov. Eric Holcomb for his signature. The Governor signed Senate Enrolled Act 2 on Wednesday making it Public [...]
(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 [...]
Property taxes are getting much attention in the media and at the Statehouse. That said, there’s really no justification for local government budgets or at least the property tax component of those budgets to go up by 15%. We do not believe actual property tax bills will increase by such an amount for the vast majority of homeowners because [...]
Indiana lawmakers are considering changes to the state’s property tax system due to high assessments last spring that may result in high tax bills this year. The Association of Indiana Counties reported that assessed values increased by 15% from 2021 to 2022, compared to a 5% increase the year before. Legislators are proposing bills that range from mild tweaks [...]
(INDIANAPOLIS) — Indiana Chamber of Commerce President and CEO Kevin Brinegar and Vice President of Taxation and Public Finance David Ober comment on the Indiana Senate Republicans’ 2023 legislative agenda, which was announced this afternoon. “There are many points of commonality between the Indiana Chamber’s and Senate Republicans’ efforts this session,” Brinegar says. “We’re eager to get started as some [...]
A new paper from the Tax Foundation reveals tax changes awaiting taxpayers and businesses in Indiana and across the nation on January 1. The Tax Foundation shares that "most of these changes represent net tax reductions, the result of an unprecedented wave of rate reductions and other tax cuts in the past two years as states respond to burgeoning [...]
The U.S. Senate passed H.R. 5376, more commonly known as the Inflation Reduction Act (previously known as the Build Back Better Act and the 2022 Budget Reconciliation Bill), by a vote of 51-50 Sunday with Vice President Kamala Harris casting the deciding vote. The bill now moves to the U.S. House of Representatives for consideration. This is a massive [...]
An agreement was reached Friday between leadership of Republican majorities in the House and Senate to provide a $200 tax refund to an estimated 4.3 million Hoosiers and a $200 refundable tax credit for an additional 469,000 to 626,000 non-filing individuals. Some taxpayers may find that if they itemized deductions on their federal tax return and claimed the state [...]
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