Indiana News

Budget Deal Expected This Week

4/23/2013

Legislative leaders are sticking to their timetable of passing a budget and adjourning for the year on Friday.

House Speaker Brian Bosma says he expects a final agreement Wednesday, with a public conference committee meeting Thursday and a Friday vote. House rules require members to receive the budget 24 hours before a vote.

Leaders aren't divulging details of the talks. Bosma says the "framework" of an agreement is in place, but details still need to be worked out.

Bosma and Senate President Pro Tem David Long say discussions are continuing on the proper mix of tax cuts. All sides have agreed to speed up the planned elimination of the inheritance tax. But Bosma reaffirms the House and Senate have committed to a half-billion dollars a year in tax relief. That's the total cost of Pence's proposed 10-percent income tax cut, so cutting the inheritance tax as well would mean either changing the targeted total or passing a smaller income tax cut.

There's also disagreement over how to score the budget's tax cuts. Legislators' total includes 200-million dollars a year in corporate income tax reductions. Pence aides maintain that doesn't count, since those cuts are already on the books.

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