Jeff Ehlers — Named as the sponsor of RS 33071 and invited to the podium.
Jeff Ehlers — Introduces himself as Representative Jeff Ehlers, District 21, Meridian, and presents RS 33071.
Jeff Ehlers — Responds that the Tax Commission analysis was focused on the R&E credit and found zero impact.
Jeff Ehlers — Explains his estimate for the fiscal impact of the R&D deduction and cites Tax Foundation figures.
Jeff Ehlers — Addressed by Gannon in follow-up questions.
Jeff Ehlers — Says the Tax Foundation number includes both personal and business deductions and explains his use of a $155 million estimate.
Jeff Ehlers — Explains the origin of the $155 million estimate using Tax Commission midpoint figures.
Jeff Ehlers — Was asked to join the committee at the desks as discussion and debate opened on the motion to introduce RS 33071.
Britt Raybould — Makes a motion to introduce RS 33071.
John Gannon — John Gannon engages in a sustained line of questioning and commentary about the bill’s fiscal note and projected tax revenue impact. He says he could not find comparable conclusions from other states or the Tax Foundation, questions whether something was missed, cites Tax Foundation figures suggesting a much larger impact than the committee’s estimate, and urges the committee to review Indiana’s analysis and account for differences in other states’ tax rates. He concludes that the fiscal impact needs to be resolved before the bill moves forward, noting warnings that the impact could be as high as $800 million.
Jeff Ehlers — Was invited to respond to questions about the Tax Foundation and fiscal impact.
Jeff Ehlers — Responded that his Tax Foundation analysis did not show as high a number and said the fiscal note of $155 million tracks with comparisons to Utah and other states.
David Cannon — As chair, David Cannon acknowledged the exchange and invited Representative Ehlers to respond, indicating the matter could be discussed further in a later public hearing.