Another $225 could come your way if legislature approves
Governor Eric Holcomb on Thursday announced a plan to return $1 billion of state reserves to Hoosier taxpayers, following higher than expected revenue performance this fiscal year.
Each taxpayer would collect about $225 in addition to $125 Hoosiers are currently receiving from the state’s automatic taxpayer refund (ATR). All told, each eligible Hoosier would receive about $350; a married couple filing jointly would receive about $700.
Holcomb
“Hoosiers have real needs right now during this period of high inflation, from the gas pump to buying groceries, and everyone should benefit from the state’s success,” Holcomb said.
The governor has outlined his plan with legislative leaders.
“I’ve met with Speaker Huston and Senator Bray and have asked them to discuss getting a billion dollars back into Hoosier hands with their colleagues,” Holcomb said. “I’ve committed to work with them to call a special session before the end of June to take action to align this second round of returns with our current ATR.”
The state’s reported revenues for May, released Thursday, were $209 million over forecast. For 11 months of the fiscal year, revenues are $1.075 billion over forecast.
If approved, an additional deposit would be made to the bank accounts of eligible Hoosiers, just like the current ATR. For those who will receive paper checks beginning in August, one check for $350 for individual taxpayers, or $700 for those filing jointly, would be issued.
Hamilton County lawmakers support special session to provide inflation relief to Hoosiers
Area legislators provided the following statements Thursday after Gov. Eric Holcomb announced his plan to call state lawmakers back to the Statehouse for a special session to provide inflation relief to Hoosier taxpayers:
“Inflation is having real and negative effects on everyday Hoosiers, whether it’s record gas prices or rising grocery and energy bills,” House Speaker Todd Huston (R-Fishers) said. “That’s why I fully support the governor’s call for a special session to put more money directly back into taxpayers’ pockets. By issuing another round of automatic taxpayer refunds, we can provide quick and substantial relief while maintaining the state’s prudent reserves and providing budget flexibility moving forward. We’ll work with the governor and our Senate colleagues on scheduling a special session, so we can return to the Statehouse and do what’s right by Hoosiers.”
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“As D.C. Democrats continue to drive our national debt and inflation through the roof, taxpayers deserve some much-needed relief,” State Rep. Tony Cook (R-Cicero) said. “Issuing another round of taxpayer refunds could give a boost to hardworking Hoosiers and I look forward to joining my fellow legislators to do just that.”
“Because Indiana continues living within its means, paying down debt and wisely investing in our state’s future, we are in a strong economic position to issue another taxpayer refund,” State Rep. Chuck Goodrich (R-Noblesville) said. “We have a strong record of giving Hoosiers back their money, and I support the governor’s call for a special session to provide inflation relief.”
“Despite failed Democrat policies at the federal level, our state’s economy is running strong and revenue continues to outpace our expectations,” State Rep. Chris Jeter (R-Fishers) said. “Indiana’s incredible fiscal health puts us in a position to help everyday Hoosiers who are struggling under the weight of record inflation and gas prices.”
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Jeter
“Our state has a strong reputation for not spending more than we take in while still funding essential services, and now we’re in a position to return more money back to Hoosiers who earned it,” State Rep. Donna Schaibley (R-Carmel) said. “I support the governor calling for a special session and providing relief to all Hoosier taxpayers.”
“We have a long track record of returning money to taxpayers,” State Rep. Jerry Torr (R-Carmel) said. “This year, we passed a $1 billion tax cut package to lower income taxes and utility costs. We also returned $545 million through an automatic taxpayer refund. I look forward to working with my colleagues to make sure we provide relief, especially as Hoosiers continue to feel the squeeze at the grocery store, gas pump and beyond.”