Iowa Tax Plan Promises Broad Cuts Despite Sales Tax Hike
Lawmakers debate a sweeping tax package with sales tax hikes on services and credits. Analysts say the wealthiest residents gain most, while many with lower incomes see little benefit, and revenue losses rise through 2024.
Iowa tax package seeks cut with trigger to protect budget
Republicans push a plan cutting state income taxes by about 2.7 billion but net 2 billion over six years due to sales tax modernization. The package lowers the corporate top rate to 9.8 percent, ends federal deductibility for corporate taxes by 2021, and completes individual phaseouts by 2023. Triggers guard budget stability if tax receipts fall short. critics call the plan reckless and misleading while supporters tout fairness for online sales and farmers.
MENTIONED IN THIS ARTICLE
State Department of Revenue
Iowa
Revenue Agency
Lawans
Senate
Jack Whitter
Vander Linden
Roskaloosa
House
Ways and Means Committee
Iowa Senate Approves fetal heartbeat abortion ban bill
The Iowa Legislature advanced Senate File 359 late Wednesday, banning abortions after a fetal heartbeat is detected, around six weeks, with House passage earlier that night. Backed by Republicans, Democrats warned of court challenges as the measure targets Roe v. Wade.
MENTIONED IN THIS ARTICLE
GOP
Reynolds
Iowa House
Senate
U.S. Supreme Court
Rick Bertrand
Sioux City
House
Republcans
Iowa
Joe Bolkcom
Iowa City
Liz Mathis
Diawatha
Roe v. Wade
Family Leader
U.S. Supreme
Mathis
Bertrand
Matt McCoy
Des Moines
McCoy
Sandy Salmon
Janesville
Town
House Human Resources Committee
Tax clash over Iowa credit unions stalls for 2018 session
Republicans move tax plan without credit union language while House leaders resist adding a franchise tax. Debate centers on whether Iowa credit unions should face higher taxes like banks, with leaders signaling possible action next year amid election-year dynamics.
MENTIONED IN THIS ARTICLE
Iowa
Randy Feenstra
Raull
Senate
Ways and Means Committee
Feenstra
Chamber
House
Guy Vander Linden
Roskaloosa
Vander Linden
Towa
North Liberty
Sorensen
Disterhoff
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D-Des Moines
Charles Bruner
Bruner
Ubensus
Iowane
Jane
Iowa Department of Revenue
Mediaee
Bill Dotzler
D-Waterloo
Rob Hogg
Cedar Rapids
Boshart
Thegazette
Gonette Srephic
Ames.lynch
Thegazette.com
UICCU
Bankers Trust
Iowa Bankers Association
Patane
Ead Ra
Alan
Nova City
Eugene Nassif
Dpm
Blairs Ferry Road
Marion
Crioatdr