By shining a light on the obligations tied to federal funds, Iowa can take steps to reduce dependency on federal dollars, creating more room for tax cuts and future-proofing the state’s finances. Iowa’s recent history of tax reform has been marked by four rounds of significant income tax cuts with an ongoing interest among lawmakers and taxpayers in further reductions, […]
State and local governments have enjoyed hundreds of billions of dollars in interest cost savings by refinancing their debt, but that all changed in 2018, costing taxpayers billions. Iowa’s state and local governments have almost $21 billion in outstanding debt obligations, with two-thirds of that total borne by local property taxpayers. The combined debt of Iowa’s cities, counties, and schools […]
Washington, D.C. sets up a game of chicken between Iowa taxpayers and the sunset of the Tax Cuts and Jobs Act. The Tax Cuts and Jobs Act of 2017 (TCJA) delivered significant tax relief to Iowans, from individuals to small business owners. However, key provisions of the TCJA are set to expire in 2025, leading to tax increases across Iowa, […]
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