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Indiana Governor Calls for Income Tax Rate Cut to 2.9%

March 3, 2022, 8:26 PM

Indiana Gov. Eric Holcomb called on lawmakers to drop the state’s personal income tax rate to 2.9% and pull back on two taxes paid by businesses, saying in a Thursday op-ed that the state has adequate revenues to make up for the expected losses.

Holcomb, who argued for a go-slow approach to tax cuts earlier in the year, said Indiana is now on track to exceed previous revenue forecasts. In response, he called for the state’s 3.23% flat income tax rate to be cut to 2.9%, which is just under the 3% rate specified in a bill (H.B. 1027 ...