Iowa has taxed its residence using a progressive system, meaning as your income increases, you pay a larger share of taxes. But under a new bill just signed this week, Iowa will phase in a 3.9% flat income tax, meaning all Iowans' income will be taxes the same amount whether they make $30,000 or $300,000 a year.
Gov. Kim Reynolds signed a major tax cut package into law Tuesday surrounded by Republican lawmakers in Des Moines. The move was among Reynolds' top priorities, eliminating the state's retirement income tax, adding tax breaks for retired farmers and people retiring from employee-owned companies. It also reduced the corporate tax rate over time and cut some corporate tax credits.
On this episode of River to River, it's Newsbuzz. Host Ben Kieffer gets the latest on the tax plan from IPR's Katarina Sostaric. Then we hear about its relative merits from the Iowa Capital Dispatch's Kathie Obradovich.
Also from this week, we hear about the legislature's passage of a bill that will ban trans girls from participating in girls' sports both at the K-12 and college levels in Iowa. Then, a climate scientist discusses takeaways from the most recent IPCC report on the climate crisis. IPR's Natalie Krebs describes her reporting on how Black Iowans are more likely to have cancer than their white counterparts. Finally, Mark Simmet grooves into the weekend with new music from Superchunkand Carson McHone.
Guests:
- Grant Gerlock, IPR central Iowa reporter
- Katarina Sostaric, IPR state government reporter
- Kathie Obradovich, editor-in-chief of Iowa Capital Dispatch
- Eugene Takle, emeritus professor in the department of agronomy at Iowa State University
- Natalie Krebs, IPR health care reporter
- Mark Simmet, IPR Studio One host
