Iowa Fiscal Partnership / 2015
Research Archives for 2015
The big winners would be those with the highest incomes.
The new health-coverage data show Iowans gaining both in public coverage, which would include the expansion of Medicaid resulting from the Affordable Care Act, and in private coverage.
Governor Branstad’s words ring hollow in his decisions to cut education funding and to prevent greater access to child care assistance.
The optional flat tax bill recently introduced in the Iowa House would give $26.5 million in tax cuts to people living outside the state, including almost 5,000 non-resident millionaires.
Tax cuts have dramatically reduced state funding for schools, health care, and other services.
Millionaires do better than low- to moderate-income taxpayers by 273 to 1 under this bill. While millionaires would receive about $8,200 apiece on average — people making $40,000 or less would average only $30 in tax savings.
Tax cuts have consequences. In the case of the massive commercial property tax cut enacted two years ago, those consequences have become all too real.
To reap the benefits of raising the gas tax while avoiding an undue burden on those with the least ability to pay, Iowa could raise the minimum wage or increase the state’s Earned Income Tax Credit.
Iowa continues to give a lot of money to companies that aren’t paying income tax.
The Battelle Report raises only the business perspective on economic development. More Iowans need an invitation to the table.