Gov. Pence considering new plan for state business tax - 14 News, WFIE, Evansville, Henderson, Owensboro

Gov. Pence considering new plan for state business tax

Posted: Updated:
INDIANA (WFIE) -

Indiana Governor Mike Pence is considering using state dollars to offset any money lost through a proposed cut in the state's tax on business equipment. 

Evansville Mayor Lloyd Winnecke saying that's good news for the city. It's something the mayor has been fighting for.

Pence is wanting to cut the state's tax on business equipment, but he's leaving it to lawmakers to figure out the details.

Senate republicans want to cut the tax for small businesses. House republicans want to leave it up to the counties to decide whether or not to elimnate the tax.

Mayor Winnecke met with the governor on Tuesday. He say he's happy the governor is now in support of replacing any revenue lost locally.

"It's great news for us. The estimates on the senate bill are anywhere from a quarter of a million dollars to $400,000 annually in lost revenue to the city. That's a big chunk of money. If that money where to go away, we'd have to really get a very sharp pencil out and figure out where that money would come from," Winnecke says.

The mayor says the governor did not give any indication as to where that replacement money would come from.

Copyright 2014 WFIE. All rights reserved.
Powered by WorldNow