INDIANAPOLIS – Indiana lawmakers say they’re discussing another potential tax refund to provide Hoosiers relief from inflation.
Because of the state’s surplus during the previous fiscal year, many Hoosier taxpayers are already receiving an automatic $125 tax refund this year.
State projections show Indiana’s surplus could surpass $6 billion by the end of the current fiscal year.
“We have the money,” said State Rep. Greg Porter (D-Indianapolis), who has participated in inflation relief talks and confirmed lawmakers are discussing a possible second tax refund this year. “We just have to have the political will to give to Hoosiers here in the state of Indiana.”
Porter has supported the idea as an alternative to suspending the gas tax – a proposal that was shot down by the Republican supermajority.
State Rep. Porter said he to wants to see taxpayers receive at least $100 each, though he believes the state can afford to go higher.
“If we can go up to the $125 again per person, that would [cost the state] $545 million,” Porter explained.
Republican legislative leaders were unavailable for an interview Wednesday, though House Speaker Todd Huston floated the idea of a tax refund when speaking with reporters last week.
Huston said lawmakers are being “thoughtful” when it comes to the best options for relief as the state also faces mounting costs.
“All of these inflationary pressures are going to be in the next budget too,” Huston said. “Everybody’s already coming to us … the cost of road projects is up 50% in the last three months.”
Gov. Eric Holcomb has said he is working on an inflation relief plan, which he expects to release early this month.
