The Iowa State Capitol. (Photo by Katie Akin/Iowa Capital Dispatch) A panel of Iowa House lawmakers moved a bill Monday that would eliminate Iowa’s inheritance tax by 2024. House File 841 passed out of subcommittee Monday afternoon. The bill would gradually raise the size of an estate exempted from the tax: the $25,000 maximum would become $300,000 this year, then would … [Read more...] about House inheritance tax phaseout differs from ‘aggressive’ Senate plan
tax cuts
Half-kept promises on mental health won’t shield Iowans from gun violence
Gov. Kim Reynolds signs mental health legislation at the Iowa Capitol on May 1, 2019. (Photo by Kathie Obradovich/Iowa Capital Dispatch) Gov. Kim Reynolds, like many Republicans, wants to change the subject from gun control and talk about mental health instead. So let’s talk about mental health. She was asked last week whether she would sign a bill scrapping handgun permit … [Read more...] about Half-kept promises on mental health won’t shield Iowans from gun violence
Legislative leaders still uncertain about effect of tax-cut plans on federal COVID relief
Iowa House Speaker Pat Grassley stands and applauds during Iowa Gov. Kim Reynolds' 2020 Condition of the State address on Jan. 14. (Photo by Linh Ta/Iowa Capital Dispatch) Iowa lawmakers may have to decide whether to proceed with plans for tax cuts before knowing for sure if the action could jeopardize federal coronavirus relief dollars, House Speaker Pat Grassley said … [Read more...] about Legislative leaders still uncertain about effect of tax-cut plans on federal COVID relief
GOP lawmakers advance bill shifting mental health spending, cutting conservation tax breaks
The Iowa State Capitol. (Photo by Austin Goode via Unsplash) Senate Republicans are fast-tracking a bill that would change how the state finances mental health services, accelerate tax cuts, and reduce both payments to cities and tax breaks for preserved forests and other land. After an hour-long hearing Wednesday that drew opposition to the legislation, Senate Study … [Read more...] about GOP lawmakers advance bill shifting mental health spending, cutting conservation tax breaks
Governor: New revenue projections make the case for immediate tax cuts
The interior of the Iowa Capitol dome. (Creative Commons photo via Pxhere) Gov. Kim Reynolds and key GOP lawmakers said Friday new state revenue projections support their move to accelerate income tax cuts. The three-member Revenue Estimating Conference met Friday to update the state’s official revenue estimates. The new projections show that even if lawmakers take no action, … [Read more...] about Governor: New revenue projections make the case for immediate tax cuts