Pence: Tax Plan is Staying Put
(WIBC.com file photo: Eric Berman)
Mike Pence says he has heard the criticism of his plan to cut tax rates, even from some Republicans. But the governor-elect says his plan isn't going anywhere.
After a speech to the Indiana Chamber's Vision 2025 conference in downtown Indianapolis, Pence said his top priority as governor would be job creation. One way he believes the state government can stimulate the economy is with a ten-percent across-the board cut in personal income tax rates.
It would seem Pence would have an easy time getting his plan through the General Assembly, since Republicans will hold super majorities in both the House and Senate. But House Speaker Brian Bosma and Senate Pro Tem David Long have both questioned whether the state can afford another tax cut.
Pence says the state is in such good fiscal shape thanks to "the good stewardship of Governor Daniels" that the state can afford to leave more money in the pockets of taxpayers.
In addition to adding the paychecks of workers, Pence says it will provide more money for small businesses in the state. Pence says 92-percent of small businesses in Indiana file their taxes using the individual rates.