Indiana Gov. Mike Pence shifted his stance on tax cuts somewhat Wednesday, saying he would consider a longer phase-in of the income tax cut he is seeking but still won't budge on the size of the cut.
The Republican governor also said he would like to see a quicker phase-out of the state's inheritance tax, hinting that he may be open to supporting a mix of tax cuts House and Senate budget leaders say they plan to include in the budget.
In arguing for a 10 percent cut in the state's income tax, Pence hit harder Wednesday on points such as out-of-state competition and Indiana's lackluster tax burden. But his core argument, that a cut in the income tax would best spur the state's economy, did not change.
"I'm really just a salesman at heart," he told business leaders gathered Wednesday for an Indianapolis Chamber of Commerce lunch.
The governor's "closing argument" on the tax cut comes a little more than a week before lawmakers are expected to sign off on the state's next biennial budget. House Speaker Brian Bosma, R-Indianapolis, told members of his chamber Wednesday they might end the session by next Friday, a few days ahead of their April 29 deadline.
But House and Senate negotiators will first have to approve a compromise plan. Members of the budget conference committee formally met for the first time Wednesday afternoon and heard testimony on a range of issues, from school funding to smoking cessation plans, but most negotiations are set to be worked out in private.
Senate Appropriations Chairman Luke Kenley, R-Noblesville, called the Senate plan an "opportunity budget" that maintains the state's fiscal integrity while cutting more taxes, increasing road and education spending and paying down state debt.
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http://www.nwitimes.com/news/state-and-regional/indiana/tax-cut-plan-close-pence-backs-inheritance-cut/article_892f41b2-0dd4-520c-a520-df20b1c4254c.html
