Posted: Wednesday, 16 January 2013 4:48AM
Pence: Tax Cut
Governor Mike Pence is proposing one-percent funding increases for Indiana schools and a double-barreled tax cut for Hoosier families.
The new governor's first two-year budget restores some, but not all, of the school funding cuts Governor Daniels made in 2011 and 2012.
The plan envisions tying the second year of increases to performance measures.
The proposal follows the outline Pence put forward in last year's campaign, holding total spending increases to one-and-a-half-percent while slashing income tax rates by 10-percent.
Budget director Chris Atkins says that would leave nearly a quarter-billion dollars unspent, pumping up reserves to two-point-three-billion.