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It is really time to examine whether this is a wise use of what legislators tell us are scarce resources.
What legislators pleading low revenues seldom admit is that their dilemma is largely self-inflicted. Revenues given away are revenues that cannot be used to invest in schools.
Legislators must decide if a boon to specific Iowans is more important than improving the lives of all Iowans with better funding of schools and other priorities with revenue otherwise lost.
These figures raise serious questions about the need for state help to cover what may be normal expenses for these large, profitable companies.
“Is it a better use of taxpayers’ money to send millions in checks to profitable companies to do research they would do anyway, or to make sure schools can hire enough teachers next fall?”
“Too often, we see public officials relying on these rankings and the policy prescriptions they promote, when in fact the rankings have no predictive value for economic growth,” said Fisher.
The path to advancements in education, economic stability and environmental stewardship — as well as other critical areas where strong public policy and institutions are necessary — rests on strong, strategic investments.
Tax cuts have dramatically reduced state funding for schools, health care, and other services.
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.
Iowa continues to give a lot of money to companies that aren’t paying income tax.