INDIANAPOLIS — After discussing its abortion bill for hours, the Indiana Senate wasted little time in passing its version of an inflation relief plan.
The Senate approved Senate Bill 3 in a 40-4 vote Saturday. Discussion on the bill was brief.
The Senate plan differs significantly from the House version, which mirrors Gov. Holcomb’s plan to return $1 billion from the state’s surplus to Hoosier taxpayers through $225 payments.
The Senate proposed a six-month moratorium on the state’s utility tax along with a cap on the state’s gas tax. Those supporting the measure said it’s logistically smoother than the tax refund, which would take additional planning and funding to pull off.
The Senate version would suspend the 7% sales tax on electricity, water, gas, internet and phone bills for six billing cycles, providing an estimated savings of $260 million.
The measure would cap the sales tax on gas at 29.5 cents through June 30, 2023.