Friday, January 21, 2022
Years of conservative fiscal policy in Indiana have consistently yielded strong results for Hoosiers.
Since 2011, Indiana has had an automatic taxpayer refund law that requires Indiana's excess reserve funds to be sent back to taxpayers when the state's reserves hit high levels. Under this law, half of the excess reserves go back to taxpayers, and the other half is used to pay down state debt. The last taxpayer refund was triggered in 2012 and sent back to taxpayers in 2013.
In 2021, Indiana's strong financial performance triggered another automatic taxpayer refund, and Senate Republicans are supporting efforts to ensure even more taxpayers are eligible to receive the upcoming refund.
Senate Bill 1 would adjust the automatic taxpayer refund law to ensure an additional 900,000 Hoosier taxpayers would be eligible for the $125 refund.
Indiana's economic successes have put our state in a great position going forward, and Senate Republicans will continue to pursue initiatives that build on our state's impressive financial standing.
To learn more about SB 1 and other bills filed this session, click here.
