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Hatch proposes tax cut plan for middle class Iowans
Iowa State Senator Jack Hatch unveiled a tax cut plan aimed at middle class families with multiple jobs. The proposal would reduce state income tax brackets from eight to four, boost the per child credit, raise filing thresholds, and eliminate federal deductibility by 2015 with targeted relief that favors dual income families. He projects a $309 million and $304 million impact in 2014 and 2015 respectively, with 1.033 million Iowans seeing tax reductions. The plan preserves a higher burden on top earners and emphasizes progressivity over universal cuts.
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Des Moines
Jack Hatch
Hatch
Iowa
Des Moines Democrat