This article was published in Governing. Iowa policymakers did the right thing in prohibiting localities from creating UBI programs that would not only fail to resolve poverty but also create a fiscal nightmare for taxpayers. The idea of a universal basic income (UBI), whereby a government provides everyone with a certain monthly amount to spend as they wish, is nothing new. […]
Iowa’s legislature continued the tax cut momentum in 2024, by passing the fourth round of income tax reforms in recent years. This new legislation will push Iowa’s personal income tax down to a single, flat rate of 3.8 percent in 2025, delivering more than $1 billion of tax relief over the next six years. Further, the legislature passed two important taxpayer protections, which include a two-third...
Officials demonstrate fiscal restraint even as they continue to up the state’s investment into education and healthcare. The passage of the appropriations bills that make up the Fiscal Year (FY) 2025 budget marked the final major legislative action of the session. Since spending is the primary driver of public policy, a priority for Governor Kim Reynolds and legislative leaders has […]
“The headline of this session is simple: Iowa’s income tax rate will be the 6th lowest in the country…” The Iowa legislature has adjourned, and this session has resulted in some important pro-growth policy victories that provide further tax relief to Iowans, while also making Iowa’s economy more competitive and government more efficient. As Senate Majority Leader Jack Whitver said, “The […]
The last several elections demonstrate that Iowans support the tax relief efforts of Governor Reynolds and those legislators who have voted to cut taxes. Iowa’s legislature continued the tax cut momentum late last week, by passing the fourth round of income tax reforms in recent years. This new legislation will push Iowa’s personal income tax down to a single, flat […]
This legislation properly reminds Iowa cities and counties of their expected role, while protecting property taxpayers from funding a flawed poverty prevention program. Taxpayers across Iowa were provided with another protection by the Iowa Legislature this week, as the House and Senate sent a bill to Governor Reynolds that bans local governments from participating in guaranteed income programs. ...
Former Federal Reserve Board Chair Ben S. Bernanke wrote that “to understand the Great Depression is the Holy Grail of macroeconomics.”[i] The cause of the Great Depression is not the only source of debate. Debate exists over why the Depression lasted such a long time and how it was eventually resolved. President Herbert Hoover argued that the origins of the Depression […]
The Iowa Legislature could reinforce the integrity of our legal system and uphold the tradition of impartial decision-making, essential for maintaining public trust. Iowa lawmakers are considering ways to reduce agency deference as this year’s legislative session gets closer to the finish line. That’s why we were excited to read about our Midwestern neighbors in Indiana making progress to en...
Economists Richard Vedder and Lowell Gallaway contend that “the seven years from the autumn of 1922 to the autumn of 1929 were arguably the brightest period in the economic history of the United States.”[i] This decade is often described as the “Roaring Twenties” or “Coolidge Prosperity” for the significant economic growth and entrepreneurship that occurred.
This article was published in the Des Moines Register and The Gazette. With constitutional protection, if a future legislature wanted to increase the income tax, then it would have to either build a consensus or have supermajority control of both chambers. “It’s funny that government can never afford to cut taxes or spending, but taxpayers are never asked whether they […]
The goal of the FY25 budget should be to reflect the average taxpayer’s ability to pay for the budget. Sound tax policy begins with conservative budgeting. Last week both the Iowa House and Senate announced their budget targets for the Fiscal Year 2025 budget. Budget targets are used as benchmarks to determine how the various departments and programs within the […]
In March 2024, some local elections saw voter turnout as low as 1.9% but decided matters voters won’t be able to revisit for decades. Many special elections decide financial questions that directly affect property taxes and determine communities’ policies for decades to come, yet voter turnout is typically a fraction of November general elections. A recent special election held in […]