(INDIANAPOLIS) – You may be getting some cash from the state to help you cope with inflation.
Governor Holcomb says he’s waiting to see this month’s revenue figures first — that report should come out this Friday or next. But he says he expects to send legislators a proposal by the end of next week for getting money back to Hoosiers.
Holcomb isn’t specifying yet what form that relief would take, but he’s ruling out a pause in Indiana gas taxes, calling that idea “misguided.” Republican legislative leaders say up to a quarter of Indiana gas tax collections come from drivers from other states passing through Indiana.
House Speaker Todd Huston (R-Fishers) has floated the possibility of a second tax rebate. Taxpayers are already getting $125 each required by law when last year’s surplus reached nearly $4 billion. Even with those payments, the surplus is now approaching $6 billion. In the first 10 months of the fiscal year, Indiana has taken in $2.4 billion above what it budgeted for. Even a revised budget forecast in December has so far underestimated the growing economy, with income tax collections outstripping those projections by more than $800 million.
Holcomb says he’s been talking with legislative leaders about the plan. He says it won’t necessarily require a legislative special session — he says it depends on “how creative we are.”
