THE RAATZ ROUNDUP
Submitted for use on Jan. 23, 2022
Word Count: 350
In Indiana, we view ourselves as a strong competitor in attracting and retaining talent and business. In fact, it is thanks to nearly a decade of conservative leadership that many publications have named us among the most affordable, lowest taxed and financially strong states in the nation.
In 2022, I supported a law that could cut Indiana's income tax rate to 2.9% by 2029, which would tie the lowest rate in the nation among states with an income tax. As we look to the future, Senate Republicans want to do something transformational.
Currently, seven states don't have an income tax, and we believe it is important to study each of those states to see what works for them, what doesn't and what would work for us. Unlike in Washington D.C., in order to provide more economic relief and stay competitive in attracting talent and business to our state, we are advocating for a top-down review of Indiana's tax structure.
Senate Bill 3, a caucus priority, would form the State and Local Tax Review Commission to study the feasibility of ending Indiana's individual income tax and reforming property taxes for Hoosiers.
As a conservative and member of the Senate Committee on Appropriations, I would like to cut taxes for Hoosiers as soon as possible. However, I understand the importance of practicing financial responsibility and developing a thoughtful plan that identifies ways to implement a system that would work for our budget.
I look forward to exploring the possibility of cutting taxes yet again because I know how important it is to ensure our government invests tax dollars responsibly. Every dollar collected was first earned by a hardworking Hoosier, so it is only right for our government to be ever vigilant with taxpayer dollars.
SB 3 must be first considered by the Senate Committee on Tax and Fiscal Policy before moving to the full Senate. Committee hearings, legislative calendars, agendas, vote tallies and proposed legislation can be viewed online by visiting iga.in.gov.
If you have any questions or concerns throughout the legislative session, feel free to contact me at Senator.Raatz@iga.in.gov or 317-233-0930.
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State Sen. Jeff Raatz (R-Richmond) represents Senate District 27, which includes
Henry, Union and Wayne counties, and portions of Franklin County.
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