Lyness, Ziemke: House Republicans advance $1 billion tax cut package to help Hoosiers and businesses
If Bill 1002 becomes law, it would be the biggest tax cut in state history
INDIANAPOLIS — Indiana House Republicans on Thursday proposed a responsible and sweeping tax cut package that could put more than $1.3 billion back in the pockets of Hoosiers, according to state officials Randy Lyness (R -West Harrison) and Cindy Ziemke (R-Batesville).
Ziemke said the bill would provide direct relief to working Hoosiers by phasing out Indiana’s personal income tax from 3.23% today to 3% by 2026. is passed, the Hoosiers would also pay less on their utility bills with the elimination of the 1.4% tax on utility receipts. , which would take effect in July. Currently, individuals and businesses pay the utility revenue tax on their monthly electricity, natural gas, water, steam, sewer and telecommunications bills.
According to Ziemke, Indiana has paid off more than $1 billion in debt in the past year alone.