This article was published in The Cedar Rapids Gazette. Media outlets such as The Wall Street Journal are beginning to recognize that the Red-state model of limited spending and pro-growth tax reform is working. A recent editorial by The Wall Street Journal highlights several progressive Democrat “Blue” states confronting budget problems as a result of overspending and tax increases. States [&hell...
When people receive benefits they’re not supposed to get, that leaves less money for everything else the government does. For months, advocates for more taxpayer-funded healthcare have warned of a looming drop in Medicaid coverage. They blamed this on the official end of the COVID-19 “public health emergency” and associated relief funds. But as I pointed out earlier this year, the real issue is...
The Iowa Legislature should seize the opportunity to speed up income tax cuts and lead the state toward a full income tax repeal. The last few years have been historic for state-based tax reform across the country. The Tax Foundation reports that 43 states passed some form of tax reform in 2021 and 2022. In 2022, Iowa led the nation in what […]
At a time when property valuations are increasing and Iowans are struggling financially from inflation, local communities must focus on paying their debt off, not finding new spending projects. Iowa governments took on nearly 7% more debt — almost $1.3 billion — in fiscal year 2022 (FY22). The current Outstanding Obligations Report from the state treasurer shows this to be […]
From being the leading voice on multiple rounds of income tax cuts and property tax reforms, to helping peel back regulations on workers and entrepreneurs, Iowans for Tax Relief Foundation is advocating for free-market principles that empower Iowans to lead the lives they want. We’ve eliminated the inheritance tax and retirement income is now tax-free, too. These are all changes that shape our ...
Lawmakers at every level have control over how much the government spends. If our nation’s lawmakers need an example to emulate for good habits, though, Iowa can show them the playbook. During the most recent debt ceiling drama in our nation’s capital, modest spending reductions were exchanged for an increase in the federal government’s borrowing limit. While that compromise is […]
Both Iowa and Minnesota offer contrasting visions for their respective states and for America’s future. If you want to know what the left would do to America, pay close attention to what it is doing to Minnesota. This article was originally published in Real Clear Policy. There is no Berlin Wall or 38th Parallel separating Lyle, Minnesota, from Mona, Iowa, […]
The Hawkeye State is on a path of one limited-government-policy victory after another. This article was originally published by National Review. When it comes to politics, Iowa is recognized coast to coast for its first-in-the-nation caucuses during election season. When it comes to policy, Iowa has traditionally not been noticed at all. That began to change after the 2016 election brought Republi...
As tax and regulatory reforms spur our state’s economy forward, policymakers must ensure regulations do not unnecessarily prevent innovation, new ideas, and new jobs from being created in Iowa. In addition to leading pro-growth tax reform, Governor Kim Reynolds recently issued an executive order initiating a review process to eliminate excessive and unnecessary state regulations. An innovative pol...
When the federal government is forced into true spending cuts, dollars sent to the states could be first on the chopping block. There is an old adage that says a successful compromise is achieved when all parties involved walk away unhappy. That take might be too cynical, but it is also grounded in reality. And if that definition is accurate, […]
With the fiscal year almost over, the state is performing close to the latest REC forecast. Iowa’s revenue report for May has been released and the data revealed net General Fund revenue for the month was $189.9 million (-15.4%) below the May 2022 net revenue level. When broken down by the three largest sources (personal income tax, sales/use tax, and corporate income […]
Reserve funds represent the accumulation of operating surpluses a city has been able to leave untouched and available for future use. They can stabilize cash flow during the first few months of a fiscal year before receiving property tax payments, provide cushions for unexpected expenditures or unforeseen dips in revenue, or apply them to any other uses that state or […]
Some cities may have collected more taxes than they needed and now they’re stockpiling your cash. Why the numbers matter During debate in the 2023 Iowa Legislature over a technical correction related to the taxable value of properties, the spotlight touched on the topic of reserve funds. The correction in question lowers the amount of taxable valuation cities and other local governments [&he...