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'The Watchdog'

Scanning the Reform Horizon

posted on December 4, 2018

LOOKING AHEAD 

More Tax Reform in 2019? 

After tax reform legislation was signed into law earlier this year, we said it was a good step in the right direction but would be a missed opportunity if further reforms were not enacted. Iowa needs to continue to speed up individual income tax rate reductions, review and eliminate some tax credits, and lower corporate income tax rates.

At the Iowa Taxpayers Association annual meeting last week, Iowa House and Senate leadership provided insight into plans for the upcoming legislative session. The Cedar Rapids Gazette and Des Moines Register report property tax reform is likely on the agenda for 2019 with no major corporate income tax reform until 2020.

Senator Jack Whitver indicated there may be a technical bill in 2019 to clarify a few issues with this year’s tax law changes.

NEW TEAM MEMBER!

Victoria Sinclair Joins ITR Staff 

ITR welcomes Victoria Sinclair as our new Government Relations Director. Victoria has bachelor’s degrees in public administration and political science from the University of Northern Iowa.

Before becoming part of the Iowans for Tax Relief team, Sinclair served as a district representative for the U.S. House of Representatives for Iowa’s Fourth Congressional District. Prior to this, she spent two years as Government Relations Director on behalf of the student body at the University of Northern Iowa.

ITR President Chris Ingstad said, “Victoria’s knowledge and experience will strengthen our presence at the Capitol and across Iowa. She will help ensure elected officials act in a responsible manner with taxpayer dollars. We need to help families and businesses not just stay in Iowa but empower them to grow and to thrive.”

 

TAX HISTORY QUIZ 

What year did Iowa impose its first state income tax?
(Answer located at bottom of this page)

 

AROUND IOWA

Public Employees Retirement System shows nearly an 8% net return on investments – Radio Iowa

Linn, Johnson counties show wage growth near 4 percent – Cedar Rapids Gazette

Lawmakers Don’t Expect Big Surprises From Revenue Projections Next Month – Radio Iowa

 

QUIZ ANSWER

In 1934 Iowa imposed graduated rates ranging from 1.0% to 5.0% over 5 taxable income brackets with a top bracket of $4,000.