State of Indiana Archives: on Tax Reform
Cut taxes, balance budget
I support cutting taxes and reforming the tax code to make it simpler and fairer for lower and middle income Americans while making America more competitive. I support a Balanced Budget Amendment
to put an end to the reckless spending and mountains of debt jeopardizing the American Dream for future generations. Limiting the size of the government will ultimately help control the size of the national debt.
Source: 2018 Indiana Senatorial website ToddRokita.com
Oct 1, 2017
Tax cuts should lead to growth
I believe the American people deserve a pay raise and one of the clearest ways to do that is major tax reform. The best way to make sure it doesn't (add to the deficit) is to pass a tax plan that leads to significant economic growth.
I am leery of the sort of Washington talk about "paid for" tax cuts because in my experience, the only tax cuts that have been paid for are tax cuts that lead to dramatic economic growth.
Source: The Star Press on 2018 Indiana Senate race
Sep 21, 2017
Estate tax is an anti-growth policy
There are few ways you can throttle the economy and restrict growth faster than increasing taxes. Jim Banks has been fighting tax increases at every level of government from the time he was elected to his county council through his service in the
One of the most anti-growth tax policies is the estate tax. This tax punishes many small business owners and farmers who seek to pass on their investments of time and effort as a legacy to their children.
Once he was elected to the State Senate, Jim was a leader in the fight to eliminate Indiana's Death Tax--one of only six states in the country that still assessed an inheritance tax at the time. Jim was recognized by many conservative groups and the
Wall Street Journal for his work to repeal the state death tax and is the only candidate at the time of this writing who has signed a pledge to repeal the Federal estate tax as well.
Source: 2016 Indiana House campaign website JimBanks.us
Nov 8, 2016
Stop funneling Hoosier tax money through federal czars
[I recommend] policies that ignite private sector economic growth, not higher taxes and more borrowing. Government that serves best is the government that serves from the bottom up
. Trickle down government from Washington DC continues to fail us. We must shift the power away from bureaucrats in Washington and return it back to the people, closest to home, where it rightly belongs.
Taxing people in Indiana, sending our money to czars in Washington DC, then having them tell Hoosiers what we deserve to get back is both wasteful and wrong.
The federal government should focus on renewing its commitment to its constitutional role, not on interfering with states that are addressing their challenges successfully on their own way!
Source: 2016 Senate campaign website, HolcombForIndiana.com
Oct 1, 2015
Simplifying the 75,000-page tax code would lead to growth
Likewise, to make America safer, stronger and freer we must become the pre-eminent global jobs magnet. When a start-up wants to join the ranks of the global economy or a manufacturer wants to expand, I want their product to be stamped "Made In America."
We can do that around the country just as we have in Indiana by removing barriers that hinder job creation. My wife, Janet, sees it every day in the small family manufacturing business she helps to run in Summitville.
Less Washington-driven regulation and a simplification of the nearly 75,000-page tax code would lead to much needed growth and innovation for those who create jobs for others.
Another important way to make America safer, stronger and freer is by
acknowledging that a bloated federal government, trickle-down-approach is not solving problems, only delaying them. We need to return to the day when states closest to the people best handled their business and there was respect for the rule of law.
Source: Holcomb's Kokomo Tribune OpEd on 2016 Indiana Senate race
Jul 9, 2015
Simplify the tax code
Over the past two years we've made great progress cutting taxes.
Now let's simplify the tax code and prevent the rapid increase of property taxes on family farms.
Source: State of the State address to 2015 Indiana Legislature
Jan 13, 2015
Major tax reforms yes; national sales tax no
Mourdock predicted major tax reforms in Congress, but said he would not support a national sales tax to replace other taxes. He said he supports lower taxes and criticized Donnelly for opposing the elimination of the federal inheritance tax.
Donnelly said he wants to see corporate income tax rates lowered from 35 percent to 25 percent. He said he supports eliminating the inheritance tax, but only once the nation's fiscal picture is improved.
Source: Evansville Courier & Press on 2012 Indiana Senate debate
Oct 15, 2012
Recommends slashing corporate taxes
Gregg unveiled his two-part tax plan. One part is to eliminate the corporate income tax for homegrown Hoosier businesses and for companies that relocate to Indiana.˙
Two--reduce the tax burden for all companies that hire Hoosiers or make job-creating investments in factories, equipment, or research and development in Indiana. Gregg˙says more corporate tax rate cuts are needed.
Source: Eagle Country Online on 2016 Indiana gubernatorial race
May 17, 2012
Take away some of the hundreds of tax breaks & exemptions
Viewers learned that Ellsworth and his wife do their own taxes, but that the Democrat believes the tax code needs to be simpler. He said after the debate that Congress needs to consider taking away some of the hundreds of tax breaks, exemptions and other
provisions that force small business owners to hire accountants to determine what they owe the government.
Ellsworth said he'd met with advocates for the FairTax, a proposal to essentially wipe out all existing federal taxes and replace them with a
23% sales tax. Individuals and businesses need "to know what to expect for years" from their tax bills, Ellsworth said.
Coats said he's open to the FairTax--but as just one idea among many to explore for making the tax code easier to understand.
The tax system needs to be "fairer, flatter, simpler, and there a number of proposals out there that are sensible to take a look at." But Coats said he could not support a value-added tax.
Source: Louisville Courier-Transcript on 2010 Indiana Senate debate
Oct 22, 2010
Open to the FairTax, but no VAT
Ellsworth said after the debate that Congress needs to consider taking away some of the hundreds of tax breaks, exemptions and other provisions that force small business owners to hire accountants to determine what they owe the government.
Ellsworth said he'd met with advocates for the FairTax, a proposal to essentially wipe out all existing federal taxes and replace them with a 23% sales tax. Individuals and businesses need "to know what to expect for years" from their tax bills,
Coats said he's open to the FairTax--but as just one idea among many to explore for making the tax code easier to understand. The tax system needs to be "fairer, flatter, simpler, and there a number of proposals out there that are
sensible to take a look at." But Coats said he could not support a value-added tax, a kind of tax common in Europe that taxes products and services at different stages of production.
Source: Louisville Courier-Transcript on 2010 Indiana Senate debate
Oct 22, 2010
Raising taxes is the worst thing possible in a recession
Around our nation, states have closed parks, thrown people off Medicaid, & stopped plowing snow. We have done none of those things and don't intend to. Saddest of all, our sister states, at least forty of them, are doing the worst thing possible in times
like these. They are raising taxes, adding to the burden on families, and making their economic climates even less attractive to new jobs. We will do whatever is necessary but we will not make this recession worse by adding one cent to the tax burden.
Source: Indiana 2010 State of the State Address
Jan 19, 2010
Page last updated: Feb 13, 2018