INDIANAPOLIS (AP) — Indiana’s surging state tax collections have the governor in discussions on whether tax cuts should be considered during the upcoming legislative session.
Republican Gov. Eric Holcomb told reporters Thursday “we shall see” when asked about the tax cut possibility.
Some top Republican legislators have been talking about proposing reductions to Indiana’s 7% sales tax and other taxes for the new legislative session starting in January even amid concerns of a possible economic downturn.
Holcomb said a factor in the tax cut debate will be trying to gauge when economic growth naturally slows.
The state has collected about 10% more in taxes than expected during the four-month span through October.