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January 4,2022

Anna Murray 

As Indiana Governor from the U.S, Eric Holcomb will propose a tax reduction in the next 2022 legislative session. The reduction comes from tax needed to pay for the new business equipment by companies.

Normally tax value on business equipment lowers according to usage time. However in Indiana, the related tax is always over 30%, which is way higher than other surrounding states. Holcomb aims to help companies renovate and be competitive by this new act.

On the other hand, local governments in Indiana may face new challenges since property tax originally belongs to one of the largest revenue sources. Therefore, Matthew Greller, the CEO of Accelerating Indiana Municipalities, points out they should find other resources to maintain balance. 

According to Holcomb, reloading the money may be one of the compensation choices.