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Iowa stacks taxes against middle, low-income Iowans Study: New state tax law reinforces long-term trend of regressive taxes Iowa summary sheet (PDF) IOWA CITY, Iowa (Oct. 17, 2018) — Iowa taxes its middle- and low-income families more as a share Read more

The Earned Income Tax Credit (EITC) promotes and rewards work in the state of Iowa.

Do these highly profitable companies need state subsidies? Would Iowa legislators choose these subsidies over funding for education, human services and public safety?

In Iowa, the House tax plan offers the wealthiest 1 percent an average tax break 143 times the size of the break at the middle — while threatening services that help middle-class taxpayers and support the safety net.

The big winners would be those with the highest incomes.

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.

Over half the jobs in Iowa pay less than what is needed by many families to achieve basic self-sufficiency. Work support programs are important — but “cliffs” in those programs can send a family’s total resources plummeting with even a small increase in income.

Serious attention to issues means not being distracted by who has or who does not have the reins of power. Our business is the arena of issues, not of party politics.

Across Iowa, the EITC benefits a significant share of households.

Iowans cannot afford new raids on the General Fund when many public services have not been restored to pre-recession levels.