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Tax Reform Could Jeopardize Terre Haute Budget

A just released report says proposed tax reforms could force cities to lose even more revenue. Terre Haute Mayor Duke Bennett says the city could lose up to $4.5 million.
A just released report says proposed tax reforms could force cities to lose even more revenue, and Terre Haute's mayor, Duke Bennett, agrees.
   
The report by the bipartisan Indiana Fiscal Policy Institute also says says the proposed tax cut would have little effect on bringing business to the state.

The proposal that passed the senate eliminates tax for businesses with less than $25,000 dollars of equipment. Another proposal allows counties to choose whether to eliminate the tax.

Bennett says the property tax caps put in place in 2008 cost the city $9 million a year,  and with the new proposed cuts the city could lose another $4.5 million.

"We've survived the property tax caps, in essence," said Mayor Bennett. "We're still stressed, we still got a tight budget but we'll be okay in the long haul. You take another $5 million off, there is no room to play. There's no excess government going on in Terre Haute and Vigo County. I would have to lay off public safety."

Currently, there is no plan to replace the revenue lost due to the cuts.

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