Our Republican governor is insisting on a 10 percent income tax cut for all taxpayers, using as an excuse the state’s largest “budget surplus” in Indiana history. Please note, the” surplus” had been built on previous budgetary cuts in critical services when state revenues plunged during the recession and dollars to schools, local communities and services for the needy were slashed.
Also, the majority of the proposed flat 10-percent tax-cut savings will go to the upper-income taxpayer. Those same taxpayers already benefited from last year’s reduction in the corporate tax rate and the phase out of inheritance taxes. All of these actions will just exacerbate the disparity between the haves and have-nots.
Republican legislators are finally proposing a reasonable budget plan that, as House Speaker Bosma put it, “You’ll see a restoration of funding that we all know first-hand is helping Hoosiers in need.” I’m pulling for the legislators, but not holding my breath.
— Ned Kauffman