... and continuing problems from giving away hundreds of millions every year
Looking ahead: Real tax reform? First, get past the myths about Iowa taxes on business; Some would use savings to address non-existent issues
We should all welcome a serious discussion of tax reform in the Iowa Legislature, with one huge caveat: It should focus on real issues, not made-up ones. There are real issues: Business tax credits continue to grow much faster than other state spending, and contribute significantly to the budget shortfalls that have become an annual problem. Iowa Fiscal Partnership policy briefor 2-pg PDF4/11/2017
Beware gimmicks in the Iowa ConstitutionA constitutional amendment to cap state spending — approved by the Senate that next year may be considered in the House — is a gimmick rather than real reform. IFP Policy brief3/27/2017
The realities about Iowa’s budget shortfall
There is no silver bullet, but you cannot solve Iowa’s chronic revenue shortages without addressing the state’s rampant spending on tax credits for corporations.
More of the same
— in fact,
millions more Perks for the profitable
continue with research credit
Iowa’s lucrative research subsidy provided as much in 2016 to very large companies that do not pay Iowa state income tax as legislators recently approved as an increase in state school aid. Iowa Fiscal Partnership summary (2 pages) 2/15/17
