Pence signing Indiana business tax cuts into law

Gov. Pence
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Republican Governor Mike Pence has signed into law a package of Indiana business tax cuts approved by lawmakers earlier this month.

The governor scheduled an event Tuesday in Greenwood to sign a bill cutting the state's corporate income tax and providing options for county leaders to reduce property taxes on business equipment.

Pence had sought the elimination of the state's property tax on business equipment, but he faced strong opposition from local government leaders worried about losing a key source of revenue. The tax plan approved by lawmakers amounts to a portion of what Pence originally sought.

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