Ind. Senate approves business tax cut

WLFI File Photo
WLFI File Photo

INDIANAPOLIS (WLFI) – On the final day of the 2014 legislative session, relief for Indiana businesses is approved.

The state Senate approved a reduction of the corporate income tax and state banking tax rates to 4.9 percent. State Sen. Brandt Hershman, who authored the bill, says the cuts are crucial to compete with other states seeking new businesses.

But Democrats who oppose the cuts say, it means that lawmakers will have to come back next year and cut critical services, such as education and roads.

As News 18 has already reported, Gov. Mike Pence originally wanted to eliminate the state’s tax on business equipment, but local leaders opposed the idea because it provides them critical revenues. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language, off topic, or racial slurs, will be banned. Please be respectful of the opinions of others and keep the conversation on topic and civil. If you see an inappropriate comment, please flag it for our moderators to review.

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