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Governor’s tax plan: Breaking trust with the Trust Fund Plan offers much less than expected — and extras that voters did not seek IOWA CITY, Iowa (Feb. 14, 2020) — Iowa voters should be getting more than Governor Kim Reynolds Read more

Governor's tax plan gives voters much less of what they wanted — and extras they did not seek

Whatever happens on the pension side of this property tax limitation bill, Iowans should not miss the significant consequences for local public services.

Despite stable city and county property taxes in Iowa, a proposal in the Legislature would impose unprecedented state control over local decisions.

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 plan includes some desirable reforms that need not have come at the expense of essential public services that inevitably will have to be cut in the face of revenue losses. It also omits reforms that could enhance Iowa tax fairness. 

Real tax reform would eliminate wasteful spending on tax breaks, transform a regressive system into one that fairly reflects ability to pay, and assure a stable revenues to fund education and other critical services.

“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.

Iowa lawmakers’ budget dilemma this year is largely self-inflicted — revenue shortfalls a product of legislators’ penchant for tax cuts over the past 20 years.

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.