State revenue forecast supports Pence tax cut idea
by Brandon Smith
December 17, 2012
The newest state revenue estimates forecast that Indiana will be able to afford Governor-elect Mike Pence’s proposal for a 10-percent, across-the-board individual income tax cut. But as Indiana Public Broadcasting’s Brandon Smith reports, lawmakers are still taking a wait-and-see approach.
In that December Revenue Forecast, fiscal analysts predict that state revenues will grow by 2.2 percent in the next fiscal year and 2.9 percent the year after that. This would mean that lawmakers will have a little more than a billion dollars more in the next state budget than they did in the last one.