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Indiana lawmakers consider inflation relief for Hoosiers from state's surplus

Indiana lawmakers began taking public comment on Monday on how to provide inflation relief to Hoosiers.

INDIANAPOLIS — State lawmakers in the House of Representatives will take public comments Tuesday as they consider inflationary relief for Hoosiers.

The proposal, introduced by Governor Eric Holcomb last month, would provide automatic taxpayer refund checks in the amount of $225. The money would come from a $6.1 billion state budget surplus.

Senators are considering another kind of relief. It would suspend the state’s 7% residential utility tax for six months and cap the gasoline tax at 29.5-cents per gallon for a year. It would also provide $400 million in debt relief for the state teacher retirement fund.

RELATED: Indiana sees big budget surplus jump as tax refund eyed

Both chambers will consider their own proposals, take comments, and then negotiate a final bill on which to vote.

“We’re open to whatever way we can get more dollars to people’s hands the state’s sitting on over six billion dollars in surplus funds of taxpayer money. They haven’t decided any other way to use it so we might as well give it back to the people,” said Rep. Justin Moed, a Democrat from Indianapolis.

Senator Travis Holdman, who authored the Senate version, told 13News he believes the suspended utilities tax and gasoline tax cap would help more Hoosiers. He also said it’s critical to pay down the debt on Indiana’s teacher retirement fund.

In a statement last week, House Speaker Todd Huston rejected the senate bill.

“Hoosiers need help now and Indiana is in a position to give them back their money,” he said in a statement.

“I think the taxpayer refund is a good method to get money back into people’s hands and give them some relief,” said Moed on Monday. “Maybe it needs to be bigger. And we could look at some other tax incentives to help stimulate the economy, too. But certainly, right now, I favor the House proposal.”

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