Indiana News

Economists Wary of Pence Income Tax Proposal

INDIANAPOLIS (AP) _ Indiana economists are wary of Gov. Mike Pence’s proposed personal income tax cut and say a better move would be to reduce the corporate income tax or cut no taxes at all.
  Lawmakers have until April 29 to work out a budget that likely will include some tax cuts. The proposed House budget doesn’t include Pence’s proposal, while the Senate plan gives Pence only part of the $500 million cut he sought.
  The final budget will be guided largely by the revenue forecast that’s to be unveiled Tuesday.
  University of Indianapolis associate professor of finance Matt Will tells The Journal Gazette that cutting the corporate tax would fuel investment. But he says the economy is still fragile and suggests leaving taxes as they are.

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