Senate President Pro Tem David Long (R-Fort Wayne) and House Speaker Brian Bosma (R-Indianapolis) made the following statements on HB 1001, which will provide a 3 percent individual income tax cut for Hoosier taxpayers on January 1, 2015 and an additional 2 percent individual income tax cut on January 1, 2017:
Statement from Senate President David Long:
“When fully implemented, this is the single largest tax cut in the history of our state,” Long said. “We believe these tax cuts are responsible and will have a positive impact on every Hoosier taxpayer and provide a meaningful boost for the Hoosier economy. I appreciate the hard work of the House and Senate fiscal leaders in putting this tax package together and thank the Governor for his willingness to find common ground and embrace a winning tax cut package for all Hoosiers.”
Statement from Speaker Bosma:
“Through hours of important discussions, we have reached a budget that reflects the goals that House Republicans set out to achieve this session. Our budget meets our goals of prioritizing education and road funding while maintaining strong fiscal reserves. In addition we integrated a conservative concept for state budgets of paying cash for projects and reducing the state’s debt burden.
“After meeting each of these goals and with a proven track record of fiscal integrity, we are in a positive fiscal environment to give Hoosiers the largest tax cut in the history of Indiana. This blend of tax relief will have a positive impact on Hoosiers across the state and will result in a tax cut for every Hoosier.”