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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 07, 1987
Page
5
An improving Iowa economy will yield an extra 15.9 million for year state coffers, enabling possible reductions in income tax rates. The estimate comes from a state panel and informs Governor Branstad and lawmakers as they assemble a tax reform package this week.
Branstad aides say the projection raises chance of a second special session to agree on tax code changes. Revenue panel projects $15.9 million extra, plus $9 million from federal reforms, potentially lowering top rate from 13 percent to about 9.6–9.8 percent. Governor's plan aims to raise $869 million overall with a 2.6 percent average tax increase. House leaders will decide whether to summon rank and file Democrats for a vote.
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