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The Economy

All reports by date

Tax bill: Know five points

5/3/18

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 than to help it.

Remember value of refundable EITC

4/27/18

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

Yet another loophole for Iowa?

4/24/18

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.

Taxing seniors: Retirees benefit already

3/21/18

Seniors are least likely to live in poverty and most likely to have substantial wealth, but legislators keep looking for ways to cut their taxes.

Leveling sales-tax playing field

3/14/18

While sales tax has remained important to state and local revenues, tax policy in Iowa has not kept up with changes in the economy, particularly with online and remote sales. The Governor’s tax plan would modernize that element — but other changes could ease Iowa’s overall regressive tax structure.

Setting the stage for cuts

3/8/18

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. 

Senate: Rising inequity, less revenue

2/28/18

Overall the Senate plan would erode revenues, create structural budget deficits for years to come, and force cuts certain to imperil Iowa’s basic infrastructure and traditionally accepted responsibilities for its residents.

Cliff ahead: Learn from Kansas

2/22/18

Despite chronic revenue shortfalls that have forced a series of mid-year budget cuts, senators are moving a tax-cut bill forward without even an analysis of its impact.

Give tax plans full review

2/21/18

Neither fairness nor adequate funding of state services appear to be the focus of either bill, but let’s give serious analysis a chance.

Governor’s budget: More details needed

2/13/18

IFP Statement — IPP’s Peter Fisher: Eliminating federal deductibility and adding sales tax for online sales are good starts, but many reasons to question Governor Reynolds’ plan.