individual income tax

President Donald Trump called the GOP’s tax reform plan a “middle class miracle” as he rolled out details in a speech in Indianapolis Wednesday.

Trump said tax reforms passed in Indiana before and during Vice President Mike Pence’s time as governor should be a model for national change.

Eric J Paparatto / https://www.flickr.com/photos/ejpphoto/

Indiana’s new fiscal year got off to a slightly underwhelming start, continuing the streak of lackluster beginnings to its fiscal years under Governor Mike Pence.

In the four starts to a fiscal year during the Pence administration, the state’s tax collections came in less than projected each year.

It’s a slim margin this year – a little more than $7 million off the mark and less than one percent less than expected.

Individual income taxes did well in July, nearly $20 million better than projections.

Nic McPhee / https://www.flickr.com/photos/nicmcphee

A new revenue forecast unveiled Thursday by state fiscal analysts predicts Indiana will collect $175 million less in tax revenue over the next two years than previously expected.