Tagged: Gov. Mike Pence

Indiana state lawmakers have overridden Gov. Mike Pence’s veto of a  tax measure.

The House and Senate both voted  today to override Pence’s veto of the bill that allows officials in Pulaski  and Jackson counties to retroactively implement a local income tax that had expired.      

Even though it was not reauthorized, the counties continued to collect the tax, which is used to fund local jails.

Indiana Gov. Mike Pence has vetoed his first legislation since taking office in January, rejecting two bills with new licensing requirements.

Pence vetoed a bill requiring licenses for diabetes educators and a measure creating new license requirements for anesthesiologist assistants and dietitians, as well as state certification for music therapists.

Indiana Gov. Mike Pence has signed the state's new two-year, $30 billion budget into law.

Pence says the plan includes $600 million a year in tax relief for Indiana residents and will boost investment in the state.

The budget approved April 27 by the Republican-led General Assembly includes a modest increase in school funding, new money for roads and highways and roughly $350 million in income tax cuts.

Indiana taxpayers will see their personal income tax rate reduced by 5 percent over the next four years under a budget plan agreed to by a conference committee of state lawmakers.

Gov. Mike Pence had sought a 10 percent cut as one of his signature campaign proposals, but lawmakers were initially cool to the idea.

Improved tax collection estimates earlier this month improved Pence's chances in the waning days of the session.

The tax rate cut will be phased in in two steps starting Jan. 1, 2015.

Expectations that Indiana will collect $290 million more in taxes leave Gov. Mike Pence’s team optimistic it can win a $500 million cut in the state's personal income tax this year.

House and Senate budget leaders said today that the improved fiscal picture makes it likely they will approve $500 million in tax cuts this year, but not necessarily the cut Pence wants.

State revenue forecasters said the improving economy should help Indiana bring in roughly $290 million more than the state previously anticipated.