Shortly after his inauguration, President Obama released his first budget proposal to the American people and Congress. During his announcement, the president promised that he would cut the deficit, we inherited, by half by the end of my first term in office.
News Release: February 22, 2012
Indianapolis, Ind. The Indiana House Committee on Ways and Means voted 21-3 today in favor of State Sen. Brandt Hershmans policy initiative phasing out Indianas inheritance tax.
Hoosier families and farmers are currently burdened by some of the highest inheritance taxes in the country, Hershman said. This unpopular death tax is also a deterrent to keeping retirees and entrepreneurs in Indiana because they pay taxes on their investments while living and want to avoid burdening their loved ones with paying taxes on those investments again upon their death.
Hershman (R-Buck Creek), chair of the Senate Tax Committee, said Indianas inheritance income tax is levied against heirs who receive inheritances, not including spouses and charitable organizations.
Indiana is one of just a handful of states that imposes an inheritance tax. This tax is also known as the Death Tax because it occurs at the point of ones death. Yes, believe it or not, after paying taxes all of ones life, Indianas state government taxes your earnings once again as you leave this world! This is a tax that your loved ones pay with what earnings you have been able to leave them.
Americans for Prosperity Indiana believes this tax is unnecessary and unjust.
The first half of Indianas legislative session was anything but business a usual. As we head into the second half of the legislative session, we thought we would take this opportunity to give you a quick update of what has happened so far and what we hope will happen in the remainder of the 2012 session.
HB 1001, Employees Right to Work: With successful votes in both the House and Senate along with Governor Daniels signature, Indiana became the 23rd state and the first in a decade to adopt a Right to Work law. AFP-Indiana was very supportive of this effort to provide freedom in the workplace. With your help we were able to send over a thousand emails and postcards to the General Assembly. In addition, we targeted specific state legislators with direct mail urging constituents to contact them in support of Right to Work.
Join Americans for Prosperity Indiana and other school choice advocates at the Demand Great Schools Rally on Wednesday, February 15, at the Indiana State Capitol.
Make your voice heard and join Hoosiers from around the state in celebrating the great school choice successes achieved in Indiana, as well as encourage lawmakers to always remember: kids come first!
For more information about the rally and to register, please visit www.EdReformRocksRally.com