Tax plan facts vs. spin
Agreed-to tax overhaul for Iowa means less revenue, greater inequity favoring the wealthy, while missing the mark on promised reforms for simplification and middle class.
Tax bill: Know five points
The new tax plan abandons real tax reform for costly changes slanted heavily to the rich. It is more likely to hurt the Iowa economy ...
Remember value of refundable EITC
The Earned Income Tax Credit (EITC) promotes and rewards work in the state of Iowa.
Yet another loophole for Iowa?
Questions for Iowa before adopting the pass-through loophole need answers: Costs of $100 million-plus, benefits to wealthy — some vs. others at the same income.
Tax plan facts vs. spin
1Tax bill: Know five points
2Remember value of refundable EITC
3Yet another loophole for Iowa?
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). The latest annual report from the Department of Revenue on the RAC shows 373 corporate claims worth $54.8 million from the program in 2017. Three-fourths of Iowa’s most lucrative business tax subsidy — $43.7 million — was paid out as checks, not as tax reductions.
Read about it here