March 25, 2014

Pence signing business tax cuts into law


---- — INDIANAPOLIS (AP) — Republican Gov. Mike Pence is set to sign into law a package of business tax cuts approved by lawmakers earlier this month.

The governor scheduled an event Tuesday in Greenwood to sign a bill cutting the state's corporate income tax and providing options for county leaders to reduce taxes on business equipment.

Pence initially sought the elimination of the state's tax on business equipment, but he faced strong opposition from local leaders worried about losing a key source of revenues. The tax plan approved by lawmakers amounts to a portion of what he originally sought.