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Iowa lawmakers split over plan to tax IRAs
Governor Ray backs a proposal to tax state income on IRAs, drawing opposition from rank and file Republicans and Democrats. Critics warn of confusion and losses to the treasury, while supporters say few small savers would be affected. Democrats anticipate amendments to grant tax deferrals, arguing the plan harms the little guy and increases complexity.
MENTIONED IN THIS ARTICLE
Des Moines
Robert Ray
Reagan
Phil Tyrrell
North English
Lyle Krewson
Urbandale
House
Ways and Means
Lowell Norland
D-Kensett
Iowa
Norland
PD Oelwein
Ray
del Stromer
Rgarner
Stromer
Bohemian Savings Office
I.R.A
Bohemian Savings