Let’s make something clear right away: Iowa’s state budget is going to continue to grow in the coming years. The only reason that point may be in question is Iowa’s Revenue Estimating Conference (REC), which has the difficult responsibility of estimating revenue for the state, recently released updated projections. The REC increased the current fiscal year (2022) estimate by 4.2 […]
Iowans for Tax Relief Foundation has been a consistent voice against the unnecessary and often harmful stimulus money that has flowed to state and local governments across the country and certainly here in Iowa. This isn’t a new topic (check out our related articles below); even prior to the pandemic we warned against the dangers of a growing federal deficit and […]
Reports that the Iowa Legislature eliminated the retirement income tax so that there would be enough people around to call the Bingo numbers have proven to be false. Okay, while that thought may have never actually crossed anyone’s mind, our elected officials were certainly thinking about how to keep retirees in our state when they eliminated Iowa’s tax on retirement […]
Many people have been probably told by either a parent, grandparent, or even a teacher that “honesty is the best policy.” This rule should also apply to local governments. Taxpayers across the country are demanding answers on why local policymakers cannot deliver property tax relief. In response, a growing number of states are enacting strong Truth-in-Taxation laws that force local […]
Nothing says “overreach” like one government forcing another to spend $1 billion, but of course that’s the situation Iowa’s local governments find themselves in. As we’ve written about, cities, counties, and school districts in Iowa have collectively received nearly $1.2 billion dollars from Uncle Sam through the American Rescue Plan Act (ARPA) and there are lots of ways to utilize […]
When major legislation is passed -and make no mistake, Iowa’s tax reform package is as major as it gets- it’s natural for one to wonder, “What does this mean for me?” We will answer that question for at least a few of the aspects of House File 2317. While these explanations are not meant to be exhaustive, nor do they […]
The roadmap to tax reform begins with a prudent budget and that’s precisely what Governor Kim Reynolds is planning for Iowa. For Fiscal Year 2023, which begins this July, Governor Reynolds is proposing an $8.2 billion General Fund budget. That amount equates to an increase of nearly $100 million dollars in new state spending for the budget as a whole. […]
Government spending is at the heart of sound public policy. But out-of-control spending for decades has created substantial economic destruction and ongoing threats that must be remedied before things get worse. Fortunately, we have examples of how fiscal rules can solve this problem. We must put these rules into place before our economy gets any worse.
A state’s tax code is a tricky thing. No two states have identical laws governing their tax systems, so a direct, apples-to-apples comparison between states is impossible. There are lots of details and the details really matter. For instance, what is the standard deduction allowed by a state? This varies across the country, and becomes a key aspect of the tax plan released by Governor Kim Reyno...
In Iowa, we expect to receive quality public services at a reasonable cost. However, in too many school districts, cities, and counties there is a gap between the amount of property taxes extracted from citizens and the growth of the community. For example, one Iowa school district is collecting 90 percent more in property taxes than it did 10 years ago while the number of students has remaine...
Income taxes aren’t the only piece of Iowa’s tax climate that impedes economic growth; our heavy property tax burden is harmful, too. Iowans are increasingly frustrated about their property taxes, likely because their local governments send them a bill that continues to grow each and every year. Thankfully, a solution exists that will benefit all property taxpayers in Iowa. Utah’s direct notificat...
“Today’s legislation ushers in a new era of growth and opportunity in Iowa,” said Governor Kim Reynolds when signing the 2021 tax reform bill into law. “But we are not done yet. Next year, I’ll be proposing additional income tax cuts as we continue to make Iowa the most attractive place in America to open a business, raise a family, and start a career,” stated Governor Reynolds. Iowa was one of 15...
Some of our country's fastest growing states have spent the past decade crafting policies that lower taxes, reduce the regulatory burden, and rely on the choices of their citizens instead of government mandates and control. The free-market solutions presented in this report are a blueprint for growth and a reliable roadmap for Iowa’s future. Click to download the report
Do you want to play a role in the policy decisions that affect your community? Do you want to learn how you can have a say in shaping your state's future? ITR Foundation has teamed up with Iowans for Tax Relief and Americans for Prosperity to host a free workshop on how to impact your lawmakers. These organizations bring years […]
The Revenue Estimating Conference (REC), which is tasked with estimating revenue for the State of Iowa, met last week and continued to project healthy revenues for both Fiscal Years 2022 and 2023. “Six and a half months from now, there’s going to be a pretty significant ending balance and so I think the General Assembly and the governor are in […]
The Tax Foundation has released the 2022 State Business Tax Climate Index today and for the second year in a row, Iowa has moved up two spots. Out of all 50 states, Iowa is now ranked 38 after landing at 42 in 2020’s rankings. As a result of the comprehensive tax reform law in 2018 and other recent reforms, Iowa’s […]
ITR Foundation Deputy Director Walt Rogers recently interviewed Dr. Ernie Goss, a professor of economics at Creighton University Heider College of Business. They covered many topics facing our economy today. Among them were: Supply chain: We do a monthly survey at Creighton University of supply managers and manufacturers, and we’ve been doing it for 25 years. This is the […]
The Conservative Iowa Budget helps limit government spending so that there are more opportunities for tax relief and for widespread prosperity for Iowans now and for generations to come.
When will the supply chain crisis be resolved? Americans are being told that they will just have to “deal” with empty store shelves and are starting to realize that “Build Back Better” is more of a wrecking ball. “Thanksgiving turkeys may be more expensive and harder to find. Buy your bird now, the experts say,” ran a headline in the […]
Nothing from the local elections here in Iowa, nor races across the country, will have changed the perception that this political environment is toxic for those who want to push a tax and spend agenda. Tuesday’s elections in Iowa and across the country are now in the books. Iowa voters went to the polls to elect candidates to school […]
Before President Biden left for a trip to Europe on Thursday, which will include climate talks and a meeting with Pope Francis, he was negotiating a new tax and spend plan with members of his own party in Washington. Apparently, Iowans weren't the only ones opposed to his $3.5 trillion Build Back Better plan, as the President was trying to […]
Our friends in Texas have published a new report entitled Reversing the Recovery, that details how the proposed Build Back Better spending plan could affect our national economy, including how it would impact each individual state. Their conclusion? Iowa would be responsible for shouldering $43 Billion in new debt and lose 51,000 jobs. From the report: “This plan includes heavy […]
Did you know that in 1934, Iowa implemented the first sales and income taxes to lower property taxes? It is never a good policy to create new taxes or raise existing taxes to reduce another tax and today, Iowans suffer from high property taxes and sales and income taxes. Property taxes in Iowa primarily are the major sources of funding […]
u003cpu003eParents are fed up with mask and vaccine mandates, gender and race issues in our local schools. Citizens across Iowa are stepping up and running for their local school boards to take them back.u003c/pu003enu003cpu003eRecently, TEF Iowa Deputy Director Walt Rogers spoke with Jeff Angelo on how these frustrations have sparked a movement to get involved in local schools.u003c/pu003en