House Speaker Brian Bosma today said a media campaign supporting Gov. Mike Pence’s proposed income tax cut is inaccurate and is not helping
chances for a compromise with fellow Republicans.
chances for a compromise with fellow Republicans.
Americans for Prosperity Indiana is paying for radio commercials that accuse House Republicans of $1 billion in overspending while not providing Hoosiers “one cent” of tax relief.
Republicans of $1 billion in overspending while not providing Hoosiers “one cent” of tax relief.
The governor made both charges himself after the budget passed by the Indiana House left out his proposed 10-percent cut to income taxes. The budget instead spends more money on eduction, transportation and debt. And despite the accusations of no tax relief, the budget does cut inheritance taxes.
relief, the budget does cut inheritance taxes.
Pence, though, has remained adamant in his call for an income tax cut, a key campaign promise. The conservative group, a chapter of the national Americans for Prosperity founded by the billionaire Koch brothers, began airing the six-figure media campaign last week in support of Pence. TV commercials will be added over time.
Bosma said his caucus chose to spend the state’s budget surplus on priorities and he has not heard an outpouring of support for the income tax cut despite the commercials.
In the House plan, tuition support for K-12 schools will rise by $344 million. The state would spend an additional $250 million per year on roads and bridges and $170 million to pay back debt and build school facilities with cash. Bosma says that $170 million will save taxpayers $337 million over the next 20 years.
Forcing Republicans defend their fiscal conservatism, Bosma said, did not help Pence’s chances for a compromise on the tax cut. Bosma called the commercials “10 days of misstatements about the House budget.”
“Our leadership team is one of the most conservative fiscal leadership teams our state has enjoyed in decades,” he said. “We are the reason that the state came through the worst recession since the Great Depression with a surplus, an increased bond rating and reserves intact.”
Still, Bosma, said he would continue to keep an open mind about the tax cut.
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