Pence honored for tax cutting prowess

2014-01-20T15:00:00Z 2014-04-16T17:46:57Z Pence honored for tax cutting prowessBy Dan Carden dan.carden@nwi.com, (317) 637-9078 nwitimes.com
January 20, 2014 3:00 pm  • 

INDIANAPOLIS | Gov. Mike Pence is one of six Republicans to receive the Tax Foundation's first-ever award for outstanding achievement in state tax reform.

The Indiana governor was honored for his 2013 work to reduce the personal income tax rate and eliminate the state's inheritance tax, while also implementing a previously approved corporate income tax cut.

"Building on the administrative reform work of his predecessor Gov. Mitch Daniels, Pence has sought further business tax reforms, continued budget restraint and a determination to make Indiana more attractive to investment and growth," said Richard Borean, Tax Foundation spokesman.

Most Hoosiers won't see the fruits of Pence's efforts until at least 2015, when the personal income tax rate is scheduled to drop to 3.3 percent from 3.4 percent. That will reduce the state tax burden for a person earning $40,000 a year by $40.

In the meantime, Indiana's corporate income tax rate will decline by 1 percent and the inheritance tax repeal, benefiting the state's 10,000 wealthiest families, was made retroactive to the start of 2013.

Others honored by the Washington, D.C.-based tax policy research organization included Michigan Gov. Rick Snyder, New Mexico Gov. Susana Martinez, state legislators in North Carolina and Wisconsin and an Ohio anti-tax activist.

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