Senate job plan offers 150 million to GM for Saturn venture
Iowa Senate leaders unveil a three part incentive package for new jobs that could provide General Motors up to 150 million if Saturn builds in Iowa. The plan lowers sales tax on equipment, grants a property tax exemption, and offers a 6 percent income tax credit on wages up to 11200 with contracts to create jobs. It is designed to be self funding with no tax increase.
MENTIONED IN THIS ARTICLE
Judy Daubenmier
Gazette
Des Moines
Iowa
Senate
Lowell Jenkins
D-Montrose
General Motors Corp
Saturn
General Motors
Detroit
Jenkins
Ways and Means Committee
William Palmer
D-Des Moines
Plan Would Use Tax Breaks to Create Jobs Audited by Iowa Senate
Senator Palmer argues tax breaks spark jobs with two dollars in gain per dollar in relief, while Jenkins says the proposal heads to the Senate next week and should win House approval. Endorsed by United Auto Workers, the plan aims to signal Detroit as GM selects a site. Cedar Rapids competes with other Iowa cities for the plant, with GM in daily contact seeking more information from state officials.
MENTIONED IN THIS ARTICLE
Jenkins
Senate
House
Junkins
United Auto Workers
Detroit
Cedar Rapids
Iowa
Branstad
Susan Neely
Governor’s Office
Iowa Development Commission
House debaters back lottery bill as amendments limited
Iowa House members largely rejected changes on the lottery and spending plan on its opening day. Rep. Johnnie Hammond won a provision to devote half of one percent of gross receipts to compulsive gambling aid while other proposed alterations were dismissed. A local option lottery proposal by Rep. Roger Halvorson was rejected 69 to 29.
MENTIONED IN THIS ARTICLE
Ken Sullivan
Azette
Des Moines
Iowa House of Representatives
House
House Economic Development Committee
Senate Fed
Johnnie Hammond
D-Ames
Senate
Hammond
Roger Halvorson
R-Monona
Iowa
Iowa House bill would launch state lottery with sunset 1990
The plan creates a separate state agency to run the lottery with a governor appointed board and a $6,000 yearly compensation for members. Prizes would take 45 percent of gross receipts while profits and interest fund economic development. Instant games and Lotto would be mandated, others at the agency’s discretion. Debate centers on funding, disclosure rules, and a proposed World Trade Center investment.
MENTIONED IN THIS ARTICLE
Senate
State
Michael Connolly
D-Dubuque
New Jersey
Iowa
Educators unveil 11 point school funding plan
Educators from Cedar Rapids Cedar Rapids Community College Community Linn-Mar Marion and Iowa City school districts presented an 11 part funding proposal in Des Moines. The plan aims to boost state aid and adjust taxes and enforcements to support educational excellence with an estimated $5.9 million annual cost for higher district funding and $7.5 million for fuel costs.
MENTIONED IN THIS ARTICLE
Ken Sullivan
Des Moines
Iowa
Linn County
Cedar Rapids Community
College Community
Linn-Mar
Marion
Iowa City
Brenton IRA Plans Offer High Yields and Self-Directed Options
An advertisement touts Brenton bank IRAs highlighting fully insured flexible term accounts with high yield fixed or variable rates and no fees. It promotes self-directed accounts via Brenton Discount Brokerage Service to trade stocks bonds and mutual funds with claimed savings up to 70 percent on commissions. Contributions up to 2000 annually are tax deferred until withdrawal between ages 59 and 70 12 2.
MENTIONED IN THIS ARTICLE
Brenton
Also Mentioned on This Page
Terry Branstad
Sen
Halvorson
BANK
VY Price
Coats & Sno-Suits
Thirty-Second
Oakland Rd
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