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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 06, 2018
Page
3
Iowa taxpayers could save about 1.538 billion in federal tax reductions for 2018 while Iowa faces about 260 million in higher state taxes over three years due to the state deductibility rule. The analysis covers 1.44 million filers with varying regional savings and notes potential state revenue shifts through 2020.
State budget officials released projections based on 1.6 million Iowa tax returns for 2016 and population and growth forecasts. With an adjusted gross income of 100 000 dollars the analysis shows how each taxpayer category would fare under the federal tax bill and the current Iowa code if the state does nothing.
Cedar Rapids Can Shed owner Troy Willard addressed five Iowa lawmakers touring the facility to explain how a broader bottle deposit law could affect recycling. He argues a higher handling fee and expanded container types would boost redemption while funding would shift from a proposed 60 million fund to support broader recycling initiatives.
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