INDIANAPOLIS — A bill outlining the future of inflation in Indiana has been drafted and released by the Indiana Senate Republicans.
The bill was authored by Senator Travis Holdman (R — District 19) and addresses specific tax rates. These tax rates are to help Hoosiers but do not include the tax refund that Governor Eric Holcomb had called for.
On the first day the bill is enacted, there will no longer be a higher gas tax than 0.295 cents per gallon. If the tax rate is less than that, it will continue to be the lower tax rate. This will continue until June 30, 2023.
Furthermore, this means the increase of the special fuel tax will also be suspended until June 30, 2023.
This policy will help reduce the gas tax by one cent per gallon and the special fuel tax by two cents per gallon.
Outlined in the bill, Hoosiers will be able to get a temporary, six-month reprieve on the 7% sales tax on residential utility bills.
Lastly, the bill calls for $215 million from the state general fund to be used to fund capital projects that have been affected by inflation-related costs. Meanwhile, $400 million from the state general fund will be distributed to the teacher's pension fund.
Press Secretary Erin Murphy released the following statement on behalf of Holcomb:
"When the General Assembly convenes next week, the more formal and public process begins. Governor Eric Holcomb will continue with his discussions with legislative leadership and members about the multiple issues before Hoosiers today, including the best way to return hard-earned tax dollars to Hoosiers in a timely, meaningful way."
-
Indiana DNR confirms deadly deer disease in three counties
Three cases of chronic wasting disease have been confirmed in white-tailed deer in Indiana, including in Noble, Rush, and Franklin counties
14-year-old charged in fatal shooting of teen in southern Indiana
A 14-year-old boy has been arrested in connection with the fatal shooting of another 14-year-old in southern Indiana on Sunday evening.
Warm pattern to follow chilly start in central Indiana
After we go through back-to-back below-average days, temperatures warm back up very quickly into midweek.State police investigate inmate death at Miami Correctional Facility
State police are investigating the death of an 82-year-old inmate at Miami Correctional Facility. This marks the third death at the facility this year.
