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.