Note to the Press: Please include the following statements from State Reps. Joanna King (R-Middlebury), Doug Miller (R-Elkhart ) and Tim Wesco (R-Osceola) in your coverage of Indiana Auditor of State Tera Klutz announcing the state will end the fiscal year with $1.1 billion in excess reserves, triggering an automatic taxpayer refund. While the final refund amount will not be calculated until later this year, early estimates suggest the refund could be as high as $170 per individual filer or $340 for joint filers. In Indiana, reserve balances in excess of 12.5% of the next year's budget is required to be split, with half dedicated to pay down pension obligations and the other half given back to taxpayers. According to the report, about $545 million will go to taxpayers and another $545 million toward pension liabilities. This will be the second time Hoosiers will receive an automatic taxpayer refund since the law passed in 2011.
STATEHOUSE (July 15, 2021) – "Returning this money to taxpayers and paying down pension debt is not only responsible government but the right thing to do. Hoosier taxpayers already enjoy some of the lowest taxes in the nation and now we're in a great position to provide further tax relief as we move forward. Now is really one of the best times to be a Hoosier," said State Rep. Joanna King (R-Middlebury).
"Indiana finished out this fiscal year incredibly strong, and this $170 to $340 tax refund is welcomed news for Hoosier taxpayers. Our state's pro-business, taxpayer-friendly climate is a big part of the reason we're seeing our economy booming. It's encouraging to be able to return some of this money back to taxpayers. I will continue to support conservative tax policies that keep more money in Hoosiers' pockets," said State Rep. Doug Miller (R-Elkhart).
"It's thanks to conservative policies putting Hoosiers first and a strong economy that taxpayers will see a bigger refund for the second time in a decade. Indiana has also positioned itself to make tax cuts in the future, so we can keep more of Hoosiers' hard-earned dollars in their pockets," said State Rep. Tim Wesco (R-Osceola).
Click here for the formal announcement.
-30-
State Rep. Joanna King (R-Middlebury) represents House District 49,
which includes the eastern portion of Elkhart County.
Click here to download a high-resolution photo.
State Rep. Doug Miller (R-Elkhart) represents House District 48,
which includes portions of Elkhart County.
Click here to download a high-resolution photo.
State Rep. Tim Wesco (R-Osceola) represents House District 21,
which includes portions of Elkhart and St. Joseph counties.
Click here to download a high-resolution photo.
