Indiana Tax Relief Plan Approved with Amendment

Indiana Governor Mike Braun's tax relief plan was approved by the Senate Tax and Fiscal Policy Committee on a 10-3 vote, following an amendment that "significantly scaled down" the original draft of the bill.

The amended plan now predicts a total impact to local governments over the next three years of $687 million, a much smaller number than some analysts estimated would be lost within the next year.

Other key provisions of the plan include retaining tax breaks for individuals over 65 and disabled veterans, as well as offering a tax credit to future homebuyers who meet certain income and assessed value limits.

"This is a significant improvement," said Democratic critics of the bill. "It will lead to less immediate revenue loss for local governments and schools."

However, three out of four Democrats on the committee still opposed the bill moving forward. The only Democrat who voted in favor was Sen. Lonnie Randolph (D-East Chicago).

All Republicans present at the meeting voted in favor of the bill.