From the Terre Haute Tribune-Star:
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The earlier reductions are real, and are being felt by city and county services by local governments, as well as schools, including those in Terre Haute and Vigo County. Just last week, as the city of Terre Haute’s financial health and 2013 budget were being debated by city officials and the general public, Mayor Duke Bennett, a two-term Republican, expressed frustration about the loss of city revenue over the past few years because of Indiana’s property tax caps.
“Nobody ever talks about the loss of revenue we’ve had,” Bennett said. That decline, he said, amounts to approximately $6.7 million annually.
Back at the Statehouse, Bosma emphasized that future tax reductions would not be etched in election fervor.
“Any tax cut in addition to those has to be sustainable,” Bosma said. “Our team definitely has a long-term vision, not a campaign-oriented vision, for how we budget.”
Of course, as Hoosiers have seen during the past two legislative sessions, Bosma can only guide but not control the actions of a body comprised of 60 fellow Republicans and 40 Democrats. That said, Bosma is in a position of some influence and power, and his acknowledgment of budget realities is helpful as Nov. 6 approaches. The agenda items he mentioned included greater access to pre-school for low-income families, an emphasis on expanded and bolstered vocational training in high school and beyond — not as sexy as a tax cut, but prudent.
See the full article here:
http://tribstar.com/editorials/x1200627120/EDITORIAL-Tax-policy-of-next-session-must-be-based-in-reality
