The busy days have resumed at the Capitol. The chairman of the House Revenue and Finance Committee will be at the center of much of the action, with joint hearings with the House State Government Administration Committee Wednesday. “We're not taking any potential pension savings into account in making our estimates, until such times as the court rules on” the pension law, says State Rep. John Bradley (D-Marion).
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As for the income tax increase, Bradley says, “We are interested in what the law is currently and not interested in forecasting or setting estimates based on what might happen.” The income tax is set to revert from 5 percent to 3.75 percent Dec. 31 – the middle of the upcoming fiscal year. The committees continue their work into examining corporate tax incentives on Wednesday.