(Des Moines, IA) — Republicans in the Iowa Senate are unveiling a five-year plan to cut taxes for individuals, corporations, and retirees — including retired farmers. The proposal would also make a significant sales tax shift that will provide tens of millions of dollars to water quality projects. Senator Dan Dawson of Council Bluffs tells Radio Iowa, “It creates a vision of having lower rates, it creates a vision of attracting more people to the state and it creates a vision of funding our priorities.” The plan goes further than the one Governor Kim Reynolds proposed earlier this month, reducing the individual income tax rate to three-point-six percent by 2027. The Senate G-O-P plan also calls for two actions related to the taxes corporations pay — cutting the corporate income tax rate and reducing tax breaks primarily used by businesses by more than 140 million dollars.
Iowa Senate Republicans Unveil Major Tax Overhaul
By Mandy Billings
Jan 26, 2022 | 3:49 PM
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