House, Senate negotiators meet on budget

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Governor Mike Pence says he'd consider slowing the phase-in of a 10 percent income tax cut and speeding up the phase-out of Indiana's inheritance tax.

But Pence says he won't budge on the size of the income tax cut - his top legislative priority - which could cost the state $500 million a year.

Pence's adjustment comes on the heels of new estimates the state will collect an additional $290 million in tax revenues over the coming years.

House and Senate budget negotiators are scheduled to meet Wednesday to begin work on a final budget plan. Leaders in both chambers have said they'd like to see a $500 million package of tax cuts and keep additional money they've added for roads and schools.

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