INDIANAPOLIS — Expectations that Indiana will collect $290 million more in taxes have Gov. Mike Pence's team optimistic they can win a $500 million cut in the state's personal income tax this session.
State revenue forecasters are expected to show later Tuesday morning that Indiana will collect roughly $290 million more in taxes over the next two years. A document obtained by The Associated Press shows the updated revenue forecast.
Lawmakers have chafed at Pence's signature agenda item this session. They have passed budgets that use the state's surplus to restore cuts made in education and roads funding.
But Pence's staff believes the additional money expected to roll in will show that the state can approve a tax cut and restore spending.
