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Iowa Republican Gov. Kim Reynolds is proposing corporate tax cuts as part of her tax plan, the details of which were released this week. Reynolds’ bill would gradually reduce the top corporate tax rate depending on how much revenue the state is receiving from corporate income taxes.
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Host Ben Kieffer is joined by IPR Statehouse reporter Katarina Sostaric for a conversation with Iowa legislative leaders on day one of a new session.
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Iowa’s 2022 legislative session begins Monday. That’s when 150 elected officials from across the state will gather at the Statehouse in Des Moines for a few months to enact new state laws and decide how to spend the money Iowans pay in taxes.
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The top Democrat in the Iowa House of Representatives says her number one priority for the upcoming legislative session is addressing the state’s workforce shortage.
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The top Republican in the Iowa House of Representatives says his number one priority for the upcoming legislative session is cutting income taxes.
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Iowa Senate Majority Leader Jack Whitver says tax cuts are the number one priority for Senate Republicans in the 2022 legislative session.
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Iowa Gov. Kim Reynolds said she will “explore significant tax cuts” after Iowa’s revenue forecasting panel estimated Monday the state will bring in more money over the next few months than previously thought.
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Here’s a look at why Iowa has so much additional money this year, and what will happen with the funds next. This article was republished from the Iowa Capital Dispatch.
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Iowa Gov. Kim Reynolds signed a wide-ranging tax bill into law Wednesday that will allow more income tax cuts to kick in, phase out backfill payments to local governments, and shift mental health funding from local property taxes to the state.
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Under a major tax bill passed by the Legislature, those payments will phase out over the course of four to seven years, depending on the growth of the tax base.