"Tax policy uncertain, critics say: Proposal to amend constitution has some worried about its reach," reads the headline to this story today in the Indianapolis Star. It begins:
Some Hoosier lawmakers say voters should support changing the Indiana Constitution on Tuesday so the inventory tax can be legally abolished and other tax breaks can withstand court challenges.Posted by Marcia Oddi at October 31, 2004 09:35 AMBut early supporters of the proposed change, which took years to get before voters, are lining up now to question whether such an amendment would go too far.
The proposal would remove the 1851 constitutional requirement that homes, land, buildings, equipment and inventories be taxed on a "uniform and equal" basis. Critics fear it would give the General Assembly unprecedented power to rewrite tax laws.
"This is a blank check to a bunch of people who will be glad to spend it for their political ends. It has very dangerous implications," said Morton Marcus, an economist and former professor with Indiana University's Kelley School of Business. "Political changes could occur every two years, and with them, changes to the tax system. Businesses want a stable tax environment."