State Revenue in August Paints Positive Picture Iowa’s revenue report for August has been released and the news for the month was encouraging. Even under the weight of continued inflation and a national recession, the state’s net General Fund revenue was $57 million (6.5%) above the August 2021 net revenue level. When broken down by the three largest sources of revenue, they […]
Trump cites the ITR Foundation Poll in his application to federal court for a special master. Another ITR Live episode with real breaking news: The ITR Foundation Poll is cited in former President Trump’s application to federal court for a special master. John tells us about the Durham Bulls’ Ripken the Dog, who fetches bats for the players. Chris Ingstad […]
The topic of discussion is a recent ITR Foundation report revealing that 48 of the 99 Iowa counties did not pass along the full mental health property tax savings. What can we learn from this, and how should it inform future property tax reform efforts?
Last week, President Biden just signed what Washington, D.C. liberals have named the Inflation Reduction Act. In reality, it will increase inflation. Chris and John provide rapid response as President Biden signs what Washington DC liberals have named the “Inflation Reduction Act”.
This week on ITR Live, John and Chris cover a lot of ground from aquatic centers, the state fair, the latest CDC Covid-19 guidelines, and another history lesson. Many cities believe the magical solution to local economic development and to improve quality of life is to build aquatic centers and other recreational areas. However, many of these facilities are struggling […]
Local governments in Iowa started a new fiscal year on July 1. Those new fiscal years bring new budgets, and many times, new tax rates. What’s unique about this fiscal year (2023), however, is that Iowa counties are no longer tasked with paying the bill for mental health services. One key feature of 2021’s tax relief package was the phase out of the mental health levy from county property taxes, as the responsibility of mental health was shifted from counties to the state.
John joins ITR Live this week and draws a historical parallel between our current economic situation to that of 100 years ago and explains how the policies President Warren J. Harding applied during the recession of the 1920s could allow an economic recovery today.
Inflation Reduction Act? Not Likely Only in Washington, D.C. could someone refer to a $750 billion bill as “anti-inflationary” with a straight face, but that’s exactly what Congress and President Biden are doing as they celebrate the passage of the so-called Inflation Reduction Act (IRA). CNN has reported that the bill may not live up to its name, and U.S. News and World Report predicts inflation isn’t […]
In unprecedented fashion, the FBI raided former President Donald Trump’s Mar-a-Lago estate, on behalf of the National Archives. Immediately, social media exploded with people taking a stand on both sides of the issue. On this week’s ITR Live podcast, ITR President Chris Hagenow and ITR Foundation Policy Director John Hendrickson discuss why this is such a startling development. The law should be […]
John joins the ITR podcast to talk about the FBI raid at the home of former President Donald Trump. John and Chris discuss why it happened and what it means for Trump.
Washington D.C. gave local governments across the country trillions of dollars through the American Rescue Plan Act (ARPA). To understand how that money was spent, ITR Foundation focused on a selection of cities and counties across Iowa, asking each: How much money did you get? How much have you already spent? How much is left? What did you spend ARPA […]
In March 2021, Congress passed the American Rescue Plan Act (ARPA). The law directed huge sums of money to state and local government. Sarah joined the ITR Live podcast to reveal her findings as to how those funds were used and if they were necessary in the first place.
July Revenue Figures Show Strength in Uncertain Times The first month of Iowa’s new fiscal year is now behind us. While looking at a single month is just one small slice of the pie, it might be hinting at some economic trends we are seeing nationwide. ITR Foundation reviewed the July state revenue report which revealed higher than expected income tax […]
John joins the ITR Live podcast to answer some very important and difficult questions such as what is federalism, why we have the Electoral College, and what is so dangerous about the National Popular movement.
The Impact of the National Recession on Iowa Well, we were right. Headlines this morning declared America’s economy shrank for the second quarter in a row and yesterday’s news cycle confirmed the Fed was delivering another large interest rate hike. Politicians, policy makers, and members of the media are scrambling to redefine the term “recession” for the American public but voters are not fooled by word games […]
Politicians, policy makers, and members of the media are scrambling to redefine the term “recession” for the American public. Sometimes these explanations are counter to the traditional economic classification of a recession which is two consecutive quarters of negative growth, as measured by the nation’s Gross Domestic Product (GDP). For anyone keeping track at home, though, the economy declined by 1.6 percent during the first quarter of 2022, and the first estimate of second quarter activity is scheduled to be released on Thursday, July 28; the next announcement of GDP data could signal the arrival of a recession. That GDP release will likely follow another interest rate hike by the Federal Reserve as the FOMC tries to turn back inflation that’s at a 40-year high.
This week’s episode of ITR Live included a discussion of the city of Des Moines’s decision to participate in a pilot program that aims to provide guaranteed income to low-income residents of central Iowa. While this calls to mind Andrew Yang’s universal basic income proposal from 2020’s Democratic presidential primaries, one significant difference appears to be that this program is being driven by mayors across the country, rather than by the federal government. In a city that already has a heavy property tax burden, the Des Moines City Council has committed $500,000 to a program that doesn’t fit within the traditional role of local government.
The most recent Iowans for Tax Relief Foundation Poll, conducted by Cygnal, shows Governor Kim Reynolds remains popular, President Joe Biden is growing more unpopular, and Iowans strongly support an amendment to the Iowa Constitution that recognizes the right to bear arms. Additionally, a majority of Iowans support the federal government reducing taxes and spending to combat record-high inflation. Governor Reynolds […]
One topic that comes up frequently when we sit down with taxpayers across Iowa is the number of people our state government employs. Iowans intuitively understand that there are very real and significant costs shouldered by the state for each member of its workforce. For instance, the Legislative Services Agency reports in their most recent Factbook that Iowa spent over $1.5 billion in total compensation just three years ago, accounting for roughly 20% of that year’s state budget. And that doesn’t even count employees at the three regents universities*!
Chris and John joined the ITR Live Podcast to talk more about the policy missteps of Biden and D.C. Democrats, the popularity of Governor Kim Reynolds, and the latest instance of Congress trying to ignore the Consititution.
The Latest Assault on Our Constitution and the States Once again it appears that policymakers in Washington, D.C. are trying to further centralize power and squeeze the sovereignty of the states. The United States House of Representatives Judiciary Committee has a bill before them that would set a dangerous precedent regarding tax policy if enacted. It’s called the STAMP Act which stands […]
As Americans try to deal with the impact of rising inflation, President Biden had a tweet this weekend with his plan to lower gas prices. Biden’s solution is issue a command that gas stations simply lower the price. Brilliant. Chris Hagenow, Chris Ingstad and Sarah Curry get together to discuss this stunning ignorance of free market economics and the audacity to believe that the President holds the power to dictate terms to private citizens.
ITR Foundation President Chris Ingstad and Policy Director John Hendrickson joined the ITR Live podcast to discuss the ongoing efforts in Iowa to cut taxes, specifically regarding the skyrocketing property tax burden.
Restrain Local Governments Addicted to Property Taxes Property taxes are despised. We hear from Iowans of all political stripes about the giant bite property taxes take from family budgets. Now inflation is adding pressure by pushing up the price of gas and groceries, not to mention rising real estate assessments and tax bills. Of course, increasing assessments don’t have to […]
ITR Foundation President Chris Ingstad and Research Director Sarah Curry joined the ITR Live podcast to talk about what Indianola property taxpayers are facing and why local governments believe they need so much money.