#345 | Understanding "EDIT" | The Political Spotlight
December 9, 2024
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2:12:03Now Playing#345 | Understanding "EDIT" | The Political Spotlight
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as posted by the channel'The Political Spotlight' frequently focuses on what Elected and Appointed Officials from various towns, cities, and counties in Indiana do — don't do — or should do with specific funds called "EDIT FUNDS."
Many citizens consider the money in a community's "EDIT FUND" to be similar to a "slush fund" in which the mayor, county commissioners, or town board members can do what they want with it without any real oversight, checks, balances, and/or accountability!
But why? What is the real purpose of these funds? What does the law say? What is the right and wrong way to go about using these funds?
EDIT stands for "Economic Development Income Tax." It is an income tax paid by individuals on their wages. The rate varies by county but is typically 0.25% of adjusted gross personal income. EDIT funds are shared among local government units in all 92 of Indiana's counties as a source of revenue.
EDIT funds were initially used for "economic development projects" or "public capital projects." However, over the years, the restrictions have been watered down so that EDIT funds can be used for any lawful purpose. The idea is that almost anything can be determined to be for the "betterment of the local economy or be an economic development or public capital project."
Many people have issues with how the funds are used and who has the say-so. Host Kristopher H. Bilbrey discusses his concerns with how EDIT is used in many different communities. The fact that the mayor of a city, or two of three county commissioners, or two of three town board members (at the very least) get to decide how to spend these funds, which are often millions of dollars, with very little to no oversight should be a concern!
A long-time viewer recently asked for a bit of a primer on EDIT funds, so along with some other "first-show-of-the-week" stuff, Bilbrey will break down his thoughts on Indiana's EDIT funds!
AUDIOONLY version of Ep 345. . .
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'The Political Spotlight'
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Hosted by: Kristopher H. Bilbrey & Brandon Rudd
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