tax cuts

Reynolds signs major tax cuts into law, promises more to come

BY: - June 16, 2021

AMES, Ia. — Gov. Kim Reynolds signed a massive tax law Wednesday that will accelerate income tax cuts, phase out the inheritance tax and property tax backfill, and fund the state’s mental health system through a state appropriation. “Iowa is already overcoming a lot of headwinds,” Reynolds said, touting the state’s post-pandemic recovery rate. “The […]

COMMENTARY

2021 legislative session: The good, the bad and the ugly

BY: - May 24, 2021

Iowa Senate Majority Leader Jack Whitver cast the work of the 2021 Iowa Legislature as “generational,” and maybe even “historic.” “And the work that we’ve done this session, I think will have lasting impact for many years to come,” Whitver told reporters Thursday after lawmakers adjourned for the year late Wednesday. Whitver’s right about the […]

he State Capital of Iowa is reflected by the Henry A Wallace Building

House and Senate compromise on taxes, move late-night budget bills

BY: - May 17, 2021

The Iowa Senate passed a major tax bill Monday evening that will accelerate income tax cuts and change the way the state funds mental health services. The proposal has been under negotiation for several weeks among Republican leaders in the Legislature and Gov. Kim Reynolds. House leadership signed off on the proposal Monday, clearing the […]

House tax plan advances amid bipartisan opposition to Senate’s mental health change

BY: - May 6, 2021

Democrats in the Iowa House lined up behind Republicans’ tax proposal for one main reason, Rep. Charles Isenhart said Thursday: “It’s not the Senate bill.” Lawmakers on the House Ways and Means Committee voted unanimously on Thursday to advance the House tax proposal. The bill would remove triggers for the 2018 tax cuts, phase out […]

House and Senate still far apart on mental health property tax, inheritance tax timeline

BY: - May 5, 2021

Gov. Kim Reynolds and Senate Republicans are in agreement on a tax proposal that would shift mental health funding to the state, accelerate income tax cuts and eliminate the inheritance tax. But House leadership is holding back, arguing that more planning is necessary for some major tax changes. Reynolds rolled out her “compromise” proposal at […]

Reynolds proposes mental-health overhaul and $400 million in tax cuts

BY: - May 5, 2021

Iowa Gov. Kim Reynolds announced Wednesday that she has assembled a “compromise” budget plan that will phase out Iowa’s property tax-based mental health system and provide $400 million in tax cuts for Iowans. The proposed budget, she said, repeals the inheritance tax, expands child care and workforce housing, and creates what she called “sustainable funding […]

House inheritance tax phaseout differs from ‘aggressive’ Senate plan

BY: - March 29, 2021

A panel of Iowa House lawmakers moved a bill Monday that would eliminate Iowa’s inheritance tax by 2024. House File 841 passed out of subcommittee Monday afternoon. The bill would gradually raise the size of an estate exempted from the tax: the $25,000 maximum would become $300,000 this year, then would increase to $600,000 and […]

COMMENTARY
Governor signs mental health legislation

Half-kept promises on mental health won’t shield Iowans from gun violence

BY: - March 29, 2021

Gov. Kim Reynolds, like many Republicans, wants to change the subject from gun control and talk about mental health instead. So let’s talk about mental health. She was asked last week whether she would sign a bill scrapping handgun permit requirements in Iowa in the wake of two mass shootings in Colorado and Georgia. She […]

Legislative leaders still uncertain about effect of tax-cut plans on federal COVID relief

BY: - March 25, 2021

Iowa lawmakers may have to decide whether to proceed with plans for tax cuts before knowing for sure if the action could jeopardize federal coronavirus relief dollars, House Speaker Pat Grassley said Thursday. Grassley, speaking with reporters before a Senate committee meeting, said the status of any tax cuts remains uncertain because of restrictions in […]

GOP lawmakers advance bill shifting mental health spending, cutting conservation tax breaks

BY: - March 24, 2021

Senate Republicans are fast-tracking a bill that would change how the state finances mental health services, accelerate tax cuts, and reduce both payments to cities and tax breaks for preserved forests and other land.  After an hour-long hearing Wednesday that drew opposition to the legislation, Senate Study Bill 1253 is expected to be considered by […]

Governor: New revenue projections make the case for immediate tax cuts

BY: - March 19, 2021

Gov. Kim Reynolds and key GOP lawmakers said Friday new state revenue projections support their move to accelerate income tax cuts. The three-member Revenue Estimating Conference met Friday to update the state’s official revenue estimates. The new projections show that even if lawmakers take no action, tax cuts based on revenue growth would take effect […]

GOP attorneys general slam tax cut ban in stimulus law as ‘unprecedented and unconstitutional’

BY: - March 17, 2021

WASHINGTON — Republican attorneys general from 21 states are attacking the $1.9 trillion pandemic relief law as an “unprecedented and unconstitutional infringement” on state sovereignty because it restricts tax cuts by states. The attorneys general in a letter to the Treasury Department threatened to take action against the Biden administration over the law’s tax cut provision. The group […]