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Indiana governor endorses big cuts in income, business taxes

INDIANAPOLIS (AP) — Indiana Gov. Eric Holcomb has thrown his full support behind major state tax cuts, saying tax collections were strong enough to overcome his previous reluctance.

Holcomb endorsed Thursday much of a plan for broad business and individual tax cuts pushed by Indiana House Republicans that has been opposed by Senate Republican leaders.

Holcomb has for several months sided with those Senate Republicans, citing uncertainty in the economy.

Key parts of the governor’s proposal would cut Indiana’s current individual income tax rate of 3.23% to 2.9% over seven years and cut several business taxes.