INDIANAPOLIS – Hoosiers could get another $225 to help them deal with high gas prices and inflation.
Gov. Eric Holcomb announced a plan Thursday to return $1 billion from the state reserves to Hoosier taxpayers in an effort to help with rising prices.
The payments are possible because of a higher-than-expected revenue performance during the fiscal year, the governor said.
According to Holcomb’s plan, taxpayers would get about $225 apiece. That’s in addition to the $125 payments being processed as part of the Automatic Taxpayer Refund (ATR).
With the payments combined, individual Hoosiers would get about $350 while couples filing jointly would get about $700.
Holcomb has outlined his plan with legislative leaders and said he’s committed to calling a special session to “align the second round of returns with our current ATR.”
If the legislature approves the governor’s plan, the additional money would be distributed just like the Automatic Taxpayer Refund. For those receiving paper checks in August, a single check of $350 would be sent for individuals or $700 for those filing jointly.