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 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 […]
“There is no reason to think the state cannot continue down the path of leaving more money in Iowans’ pockets.” -Iowa Department of Management Director Kraig Paulsen The Revenue Estimating Conference (REC), which has the arduous task of estimating Iowa’s tax revenue, recently met to provide an updated revenue forecast. The REC slightly lowered their revenue estimate for the current […]
This article was published in the Ames Tribune. Leaving an entire system on autopilot does a disservice to students, school districts, and the taxpayer. Governor Kim Reynolds has introduced legislation aimed at reforming the state’s Area Education Agencies (AEAs), stirring vigorous debate among the public. Some of the bill’s reforms could directly affect property taxes, but their significance lies in […]
Constitutional protections exist for other state funds, and it is time for taxpayers to receive that same benefit. As part of a historic income tax reform proposal the Iowa House and Senate are introducing two proposed amendments to the Constitution that would serve as protections for taxpayers. Both amendments would make it more difficult for a future legislature to increase […]
The Iowa legislature is poised to deliver the benefits of conservative budgeting and pro-growth policies to taxpayers in our state. Heading into the legislative session Governor Kim Reynolds and legislative leaders stated that not only would further income tax reform be a priority, but an opportunity existed to accelerate planned income tax rate reductions. Under current law the income tax rate […]
This article was published in The Courier. Governor Reynolds is proposing new legislation to “further protect our farmland from foreign interests.” Defending American sovereignty is vital and Governor Kim Reynolds is working diligently to protect Iowa and the nation from the growing threat posed by China. From both an economic and national security standpoint, China likely represents the most dangerous […]
Iowa’s income tax would drop to 3.5 percent next year under the governor’s proposal. In her Condition of the State address, Governor Kim Reynolds outlined a pro-growth policy agenda, including a new round of income tax cuts. Gov. Reynolds stated, “ the condition of our state is truly strong.” The reason for this is the fiscally conservative policies Iowa’s elected officials have been […]
Additional income tax cuts will generate hundreds of millions of dollars per year in economic growth for Iowa. After three significant rounds of tax cuts since 2018, Iowa firmly established itself as the national leader in state-based tax reform. Now, the state government has a real possibility of eliminating the income tax, making Iowa the first state to do so. […]
This past election was important for Iowa taxpayers. In addition to candidates for local government offices, Iowans voted on numerous bond proposals covering a variety of county, city, and school district projects. If all of the bond questions had passed, it would have meant $1.72 billion in new spending. During the election, only 22 of the questions achieved the required 60 percent majority for approval, representing an estimated $951.9 million. These results suggest taxpayers are paying more attention to bond questions owing to Iowans’ mounting frustration with high property taxes and recent legislation designed to increase participation.
The Tax Foundation’s ranking, in combination with continuing surpluses, proves that fiscal conservatism is working in Iowa. Tax rates matter. They are a major factor determining the economic well-being of a state in both the money they leave in the economy and the impressions decision-makers have when comparing states. The Tax Foundation recently released its annual 2024 State Business Tax […]
Perhaps the real lesson that can be learned from Oklahoma is that tax reforms are not easy to implement, even when there is unified control of a state Capitol. On October 3, 2023, the Oklahoma legislature reconvened for a special session. Governor Kevin Stitt (R) called the special session for the specific purposes of income tax reduction, tax fairness, and […]
This article was published in The Gazette. Governor Reynolds is working to reform state government and make it more accountable and efficient for the taxpayer. Former President Herbert Hoover chaired two commissions during the presidential administrations of President Harry S. Truman and Dwight D. Eisenhower. The Hoover Commissions were looking to make government more efficient. As a result of the […]
Oklahoma wants to follow the Iowa playbook: controlling government spending is vital to a successful tax reform policy. Oklahoma Governor Kevin Stitt has called a special legislative session, convening on October 3, 2023, for the purpose of income tax reduction and increased transparency within the state budget. The governor is not merely pushing for income tax relief but is asking the legislature […]