Indiana Chamber President Kevin Brinegar sat down with Inside INdiana Business recently to discuss the most pressing topics in the state legislature as the end of session nears. See the video on IIB:
A bill that would create a tax district to fund upgrades at the Indianapolis Motor Speedway continues to make its way through the legislature. Some lawmakers want to add guarantees that would protect state funds if the facility would be sold. In this week's INside the Statehouse segment, Indiana Chamber of Commerce President Kevin Brinegar says he's "cautiously optimistic" the legislation will pass.
Our partners at Network Indiana/WIBC report a proposed amendment to the bill calls for the speedway to receive a portion of the money the horse racing industry now receives as a loan, rather than forming a tax district. The chance would also give an additional $5 million to the Indiana Economic Development Corp. for other motorsports industry efforts.
Brinegar says the Indiana House and Senate are not too far apart on a two-year state budget. He believes the final product will look closest to the Senate's proposal, which passed through committee last week. That plan includes a smaller individual income tax cut than the 10 percent proposed by Governor Mike Pence and an increase in K-12 funding by more than $330 million. Pence has called the proposal "a good start."
Differences also remain on education issues. The Senate has passed a bill that would halt the implementation of Common Core standards. House Education Committee Chairman Bob Behning (R-91) has refused to hear the bill because he believes the standards should move forward.