STATEHOUSE (July 14, 2021) – “We must never forget this is the people’s money. This tax refund is yet another sign conservative policies and fiscal responsibility pay off for everyday hardworking Hoosiers. This refund is good news on top of our recently passed budget, which responsibly pays down $1 billion in debt while providing opportunities for future tax cuts and reforms,” said State Rep. Matt Hostettler (R-Patoka).
“Thanks to the fiscal stewardship of Indiana Republicans, Hoosier taxpayers will keep more of their hard-earned money. This tax refund comes on the heels of a two-year budget, which pays down state pension debt and makes record investments in K-12 education,” said State Rep. Wendy McNamara (R-Evansville).
“While lawmakers in Washington D.C. continue to print money and enlarge our national debt to an unthinkable $28 trillion, Hoosier legislators are returning money back to the people in the form of an automatic tax refund. For many Indiana taxpayers, this extra $170 or $340 will be a help for their families,” said State Rep. Tim O’Brien (R-Evansville).
 Click here for the formal announcement.
FOOTNOTE: The following statements from State Reps. Matt Hostettler (R-Patoka), Wendy McNamara (R-Evansville) and Tim O’Brien (R-Evansville) in your coverage of Indiana Auditor of State Tera Klutz announcing the state will end the fiscal year with $1.1 billion in excess reserves triggering an automatic taxpayer refund.
While the final refund amount will not be calculated until later this year, early estimates suggest the refund could be as high as $170 per individual filer or $340 for joint filers. In Indiana, reserve balances in excess of 12.5% of the next year’s budget is required to be split with half dedicated to pay down pension obligations and the other half given back to taxpayers. According to the report, about $545 million will go to taxpayers and another $545 million toward pension liabilities. This will be the second time Hoosiers will receive an automatic taxpayer refund since the law passed in 2011.
