Indianapolis, In. – Get ready to see some more money in your pocket…. Indiana House Republicans are moving forward with what is seen as a series of broad business and individual tax cuts. This week, the House is poised to endorse a proposal that could possibly result in more than $1 billion in tax cuts a year, and then send it on to state Senate for action. Key parts of the House plan would cut Indiana’s current individual income tax rate of 3.23% over the next four years to 3.0%…. resulting in a reduction of state tax collections by an estimated $500 million a year when fully implemented in 2026. Cuts in business taxes potentially add up to between $700 million and $850 million a year.
