In January, Indiana's new governor will have a decision to make.
Thanks to Governor Mitch Daniels fiscal leadership, Indiana is closing the 2012 fiscal year with over 2 billion surplus dollars triggering the automatic taxpayer refund that our lawmakers passed last year. Hoosier Taxpayers will receive approximately $100 in refunds on next year's tax bill, which amounts to only 300 million of the total 2 billion.
So the new Governor and our state lawmakers will have a decision to make on what to do with the surplus. We have several choices and mixtures of options that include spending money on government projects, invest the money on job creation, or cut taxes. Some options being discussed include stopping the sales tax on gasoline, doing away with corporate income tax for businesses headquartered in Indiana, expanding Medicaid to create healthcare for 500,000 low income Hoosiers, increase spending on Child Services, and giving back to each state agency that saved money.
In my opinion this money came from the Indiana taxpayer, and should be refunded back to them. I hope that our next Governor will choose to drastically cut taxes with this surplus.