Undermining democracy: local finance straitjacket
Despite stable city and county property taxes in Iowa, a proposal in the Legislature would impose unprecedented state control over local decisions.
Iowa’s generous breaks on inheritance
Eliminating Iowa's inheritance tax would cut $90 million worth of services. Yet already, the tax does not exist for spouses, children and grandchildren.
Business breaks as usual
Companies received $42 million in research tax credit checks in 2018 without paying any Iowa corporate income tax.
What the Governor didn’t say
Governor Reynolds’ Condition of the State address was upbeat, but exceedingly short on specifics of issues critical to the prosperity of Iowans.
Undermining democracy: local finance straitjacket
1Iowa’s generous breaks on inheritance
2Business breaks as usual
3What the Governor didn’t say
4About IFP
The Iowa Fiscal Partnership is a joint initiative of two nonpartisan organizations, the Iowa Policy Project and the Child and Family Policy Center, providing reliable information and analysis on Iowa budget and tax issues.
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No income taxes, big checks from the state
Large, profitable corporations receive checks from the state without paying any Iowa income tax through Iowa’s Research Activities Credit (RAC), which overall cost taxpayers $70 million in 2018. The latest annual report from the Department of Revenue on the RAC shows corporate recipients drew $55 million from the program in 2018 — with $41.8 million paid out as checks, not as tax reductions.
Read about it here