INDIANAPOLIS – Indiana continues to feel the impact of high gas prices and record high inflation across the economy. Now, state lawmakers are considering local ways to bring relief to Hoosiers.
With the busy summer travel season just beginning, the price for gas is hitting $5 per gallon in some parts of the state. That’s led to more calls for action, including a possible suspension of Indiana’s gas tax. Indiana lawmakers are also discussing another potential tax refund – on top of the $125 automatic refund made to Hoosiers already this year. Many Democratic lawmakers want to see every Hoosier receive $100 to ease the effects of inflation.
“The public is asking for it,” State Rep. Greg Porter (D – Indianapolis) said. “We cannot continue to as I said before keep our head in the sand when it comes to this, when revenues are continuing to grow.”
State projections show Indiana could soon surpass a $6 billion surpluss.
“We have the money,” Rep. Porter said. “We just have to have the political will to give back to Hoosiers here in the state of Indiana.”
Although Republican lawmakers didn’t comment on the latest proposals for wide-ranging relief, House Speaker Todd Huston (R) has floated the idea of a tax refund. He says he’s conerned about the ripple effect rising costs will have across the growing Indiana economy.
“All these inflationary pressures are going to be in the next budget,” Speaker Huston said. “Everybody’s already coming to us. The cost of road projects is up 50% in the last three months.”
Meanwhile, Governor Eric Holcomb (R) is set to release an inflation relief plan for the state. He says that should be announced sometime early this month, after reviewing the May revenue numbers.
Watch more on local efforts to combat inflation in the video above.