Pence mum on plans to cut business equipment tax

Pence mum on plans to cut business equipment tax

Credit: Getty Images

WASHINGTON, DC - DECEMBER 02: U.S. Rep. Mike Pence (R-IN) answers reporters questions during a news conference at the U.S. Capitol December 2, 2010 in Washington, DC. Pence and U.S. Sen. Jim DeMint (R-SC) introduced the Tax Relief Certainty Act, a bill that would permanently extend the Bush-era tax cuts to all Americans. (Photo by Chip Somodevilla/Getty Images)

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by Associated Press

WHAS11.com

Posted on February 6, 2014 at 1:57 PM

   INDIANAPOLIS (AP) -- Indiana Gov. Mike Pence says he's working to improve proposals to cut the state's tax on business equipment, but he's keeping his ideas behind closed doors.
 
   Pence told reporters Thursday that separate tax cut proposals approved by the House and Senate could use improvement to shield local governments from lost revenue. He refused to give any specifics.
 
   The governor says cutting the equipment tax would make Indiana competitive with surrounding states that cut or lowered similar taxes.
 
   His comments come on the same day the nonpartisan Indiana Fiscal Policy Institute released a report stating the equipment tax has little effect on whether businesses relocate to other states.
 
   The House plan would give counties the option of eliminating the equipment tax, while the Senate proposal would eliminate it for small businesses.
 

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