Republicans at the Statehouse are interested in eventually eliminating the state’s income tax entirely but Senate Republicans want to study the issue, looking for ways to fill the $8 billion revenue gap it would create.
, ahead of a committee hearing Monday where the supermajority is expected to adopt the spending plan that would add money for K-12 and expand the private school voucher program.to make major investments in public and mental health.
The state’s income tax will drop to 3% next year and all triggers in the current law — benchmarks the state’s revenue growth must hit to move the rate down — have been removed. The rate will drop to its target of 2.9% three years earlier than originally proposed, by 2026."In the end, Hoosier taxpayers keep more dollars and, if we can, it's best to let those citizens of ours spend those dollars as they need," Thompson said.
Where Holcomb had a separate expenditure in his budget for covering the cost of textbook and curricular fees, House Republicans have rolled that into the school funding formula.Voucher expansion could be sticking point Growing the voucher program has long been a priority for House Republicans, but is often a point of disagreement with their Senate colleagues. The Senate's top budget writer, Sen. Ryan Mishler, R-Mishawaka, already said he won't support any additional dollars for the program without increased accountability.Shortchanges Holcomb’s public health proposal
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