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State Finds $320 Million in Corporate Tax Revenue

Mitch Daniels’ administration recently announced that $320 million dollars had been found in corporate tax revenue. Daniels blamed a computer error for the reason why the money was just recently found. The money had been accumulating for about four years.

At the time of the announcement, the governor said it may signal a refund for taxpayers.

Democrat State Representative Nancy Dembowski was asked what she thinks should be done with the money.

“We passed the law that if we hit a certain percentage of surplus in our budget that we should send it back and I have no quarrel with that concept at all,” said Dembowski. “I think ultimately it’s a great thing and I think that probably should be done more frequently when we’re in economic times. Right now, they say it would be about $50 per person, but if we want to look long term and the future of the State of Indiana, I say we put that money back into education where it came from. Coincidentally, the last couple of years, the Governor took about $320 million each year out of education. Let’s put that back where it belongs.”

Other Democrats have also said the money should be returned to education purposes, as that $320 million figure is what has been slashed from education while trying to get the budget on sound footing.