Long overdue education reforms, vital tax reductions to stimulate economic growth and common sense prevailing on illegal immigration represent the biggest victories of the 2011 legislative session, says Indiana Chamber of Commerce President Kevin Brinegar.
"This was a very good year for pro-economy, pro-jobs bills that will positively impact households throughout the state. And the new education laws put the focus where it should be — on students and increasing their potential for academic achievement; these are the most significant enhancements to the state’s education system in more than 20 years," he explains.
The Indiana Chamber’s list of the five most important victories this session (in alphabetical order) with comments from Brinegar:
Corporate income tax rate reduction (HB 1004) — Decreases Indiana’s rate, one of the highest in the nation, from 8.5% to 6.5%; will be phased in over four years.
"This significantly strengthens Indiana’s already strong business tax climate. Indiana’s corporate income tax was exceedingly high; this reduction will make Indiana more competitive and bring its corporate rate in line with other states. Existing C corporations and their employees will realize the benefits through increased investments in jobs, equipment and company growth."
Illegal immigration policy that’s workable (SB 590) — Makes attempt to determine legal status of immigrants but does not aggressively overreach.
"This new law is much better than what was originally proposed. We can live with it. It’s a far cry from the discriminatory Arizona-style immigration law it started out as, which could have resulted in severe financial ramifications for the state’s economic development efforts. Thankfully, common sense prevailed.
"The ‘three strikes’ provision that could have led to a business losing its operating license and permits was removed, as were most of the law enforcement sections along with the ‘English-only’ requirements for public agencies." Continue reading