Without the passage of SB 23, over $300 million in taxes would have gone into effect on over 80,000 Indiana employers that provide jobs for over 2 million Hoosiers.
Local employers could have seen a tax increase of up to several hundred dollars per-employee.
After a lengthy conference committee process, Senate Bill 23 was adopted by the House with an 85-12 vote. The Indiana Senate also passed the measure, 50-0. The bill now advances to the governor's desk for final approval.
"I have been consistent from day one on opposing this tax increase on Hoosier employers during these difficult economic times," said Rep. Dermody. "I made it very clear last year when House Bill 1379 passed that I felt this tax increase would have terrible effects on employers during this economic downturn. We have to look out for Hoosier workers and job loss this tax increase could have caused-this would have a devastating effect when our state's economy is trying to recover."
However, there were several provisions in SB 23 that Rep. Dermody does not support.
"I was frustrated with the majority's actions to take a very good bill and insert several provisions I simply do not support. I had hoped that as the bill continued to move through the process these 'poison pills' would be removed. I voted to support the bill because if I had not, the tax increase would have hit employers at absolutely the wrong time and it came down to the lesser of two evils."