Cutting Taxes For Hoosiers

By: Spencer Deery

While this newsletter often mentions the recent large financial commitments made by the state in vital areas like education, mental health, law enforcement and public health, it’s important to also emphasize how fiscally conservative leadership at the Statehouse has consistently placed Indiana among the most financially responsible states in the nation.

In 2022, the General Assembly passed a plan to cut Indiana’s income tax to 2.9% by 2029, tying us for the lowest rate in the country among states with an income tax. Then, during the 2023 legislative session, lawmakers expedited this cut to take effect by 2027, helping Hoosiers realize the projected $1 billion in tax savings even sooner.

Though we were able to make gradual changes now, Senate Republicans hope to use findings from the newly created State and Local Tax Review Task Force to identify long-term transformational opportunities like cutting or streamlining our state’s income tax, eliminating property taxes on homes or any number of other tax reforms to benefit Hoosier taxpayers.

The task force will conduct a holistic review of Indiana’s financial position and tax system throughout the current and 2024 interim before making recommendations to the General Assembly ahead of the 2025 budget session.

The good shape Indiana finds itself in today didn’t happen by accident or overnight – it took research, planning and consensus building. As your state senator, I look forward to seeing how our state can help Hoosiers keep more of their hard-earned money in the years to come.

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Improving Early Literacy Skills in Hoosier Children

Dolly Parton’s Imagination Library will soon be available statewide thanks to state funding allocated by the General Assembly in the new 2024-25 state budget.

The program gives children less than five years old monthly access to free age-appropriate books, regardless of their income level. Printable activity sheets are available for each book.