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Pence 'open' to offsetting business tax cut with state funds

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press
Tuesday, February 11, 2014 - 5:27 pm

INDIANAPOLIS — Gov. Mike Pence has told several leading Indiana mayors he would consider using state dollars to offset any money they lose through a proposed cut in the state's tax on business equipment.

Pence has made cutting the state's tax on business equipment a priority this year, but has left it to lawmakers to figure out the details. Senate Republicans want to cut the tax for small business and further cut the state's corporate income tax. House Republicans want to let counties decide whether the tax is eliminated.

Pence met with a group of mayors at his Statehouse office Tuesday afternoon. Evansville Mayor Lloyd Winnecke says they're happy with the governor's decision to support so-called "replacement revenue" for any local cuts.