Legislators want to guarantee government spending increases so they won't have to make hard budget decisions.
It's a scary time of year to be a dollar in your pocket. Many candidates and elected officials can smell the money and want to take more of it!
Do you remember when legislators voted to lower your income tax rates but only after letting government spending grow for a few more years?
Yeah, we do too.
When the reform bill passed two years ago, ITR said it was a good first step. It was, but Iowa needs to continue moving forward.
Iowa's economy was strong before COVID-19. But, as the recovery progresses, it might not bounce back fast enough to meet the tax and spending targets needed to trigger tax cuts.
It doesn't make sense for legislators to cut your tax rates only after adding half a billion dollars to the state coffers and seeing a year-over-year increase in revenue of four percent in 2023. They want to guarantee government spending increases so they won't have to make hard budget decisions.
If Iowans stay quiet, the tax cuts might never happen, and politicians will continue to take more and more of your money.
When legislators return to the Capitol in January, they need to:
- Listen to the people paying the bills
- Remove the tax and spending targets
- Speed up the scheduled tax cuts
When this happens, looking at your pay stub or total state income tax bill won't be as painful, and you will keep more money in your pocket.
Iowans deserve the promised tax cuts, NOW!