Iowa governor signs flat tax bill into law

[mystery-ak]

Iowa governor signs flat tax bill into law

By DAVID PITT 49 minutes ago

DES MOINES, Iowa (AP) — Iowa Gov. Kim Reynolds on Tuesday signed into law a bill that phases in a 3.9% flat tax over four years, eliminates taxes on retirement income and lowers taxes for corporations at an estimated overall cost of about $2 billion in lower annual total state income when fully implemented.

Republicans pushed the bill through the House and Senate last week in one day, saying they were making historic changes to help Iowans and the state’s economy.

Reynolds signed the bill at LBS, a Des Moines manufacturer and distributor of materials for the production of books and luxury packaging. She was surrounded by Republican legislators and business leaders.

“With this bill, Iowa is now the fourth lowest for individual income tax rates in the nation,” Reynolds said. “There’s never been a better time in Iowa for bold, sustainable tax reform.”

Few Democrats supported the proposal, saying it offered little help for lower and middle class residents who could most benefit from more targeted tax cuts or enhanced government services.

more
https://apnews.com/article/state-of-the-union-address-business-iowa-kim-reynolds-des-moines-45161d72ab4d0e62f9bb81aa7b07a8cd

[mystery-ak]

Paging @Bigun

[Free Vulcan]

Been a long time coming.  Iowa has a difficulty attracting business because it's top tax rate is one of the highest in the country.

Although Iowa offers generous credits to avoid that, it was one of those things that turned businesses off up front and they often didn't look any farther.

[Bigun]

Paging @Bigun

Election day here @mystery-ak Later!

[roamer_1]

Few Democrats supported the proposal, saying it offered little help for lower and middle class residents who could most benefit from more targeted tax cuts or enhanced government services.

It is inevitable that they will be proven oh so very wrong. Iowa will explode. A rising tide lifts all boats.

[Smokin Joe]

It is inevitable that they will be proven oh so very wrong. Iowa will explode. A rising tide lifts all boats.

When you consider the vast numbers of blue staters looking for a home, fleeing from high taxes (just one of the things they voted for, to fund the social machines they built in those places) Iowa will have an edge to attract some talent with lower and predictable tax rates. Perhaps capitalizing on that will lead to better things for the state. Not all those fleeing the Blue States are hopeless leftists,some just went there for the money, so hopefully, the people they attract will not take Iowa across that line to being a leftist state.

[Wingnut]

More people looking to flee IL but stay in the midwest would be happy in Iowa.

[roamer_1]

When you consider the vast numbers of blue staters looking for a home, fleeing from high taxes (just one of the things they voted for, to fund the social machines they built in those places) Iowa will have an edge to attract some talent with lower and predictable tax rates. Perhaps capitalizing on that will lead to better things for the state. Not all those fleeing the Blue States are hopeless leftists,some just went there for the money, so hopefully, the people they attract will not take Iowa across that line to being a leftist state.

Agreed, except the TRULY hopeless leftists are not the ones leaving Chicago. They'd still be there.

[Free Vulcan]

More people looking to flee IL but stay in the midwest would be happy in Iowa.

As long as they are downstate IL!

[roamer_1]

More people looking to flee IL but stay in the midwest would be happy in Iowa.

I would probably prefer the Northwoods up in Wisconsin or go hang with the Yoopers... Nothing but CORN CORN CORN (Ooh! look! milo!) between the Mississippi and the Badlands.

Except Wall Drug.

[Wingnut]

As long as they are downstate IL!

And the northwest.  Say from Freeport to Galena! 

[Free Vulcan]

I would probably prefer the Northwoods up in Wisconsin or go hang with the Yoopers... Nothing but CORN CORN CORN (Ooh! look! milo!) between the Mississippi and the Badlands.

Except Wall Drug.

Well now we gotta plant beans sometimes, just to break up the scenery.

[roamer_1]

Well now we gotta plant beans sometimes, just to break up the scenery.

Good Lord, I'd hope so... 

[Free Vulcan]

Good Lord, I'd hope so... 

I know, Iowa has that reputation, fairly well earned. Most of the corn growing area is the north to northwest half and alot of it is pretty flat, and shoot-me-in-the-head boring.

Southern Iowa is a whole different bird. It gets downright backwoods around Centerville, Albia, and Ottumwa. Some corn country in the SE but otherwise very small town and alot of Amish as you go toward the MO border.

NE Iowa is nicknamed Little Switzerland. Big hills and thick woods, and streams full of trout.

Most people don't know that though, and I'm good with that. Keeps the California locusts away.

[DefiantMassRINO]

The big money is in peas - a base ingredient of the industrially processed plant-based feaux meat slurry that is popular with Global Climate Change nitwits.

[Wingnut]

NE Iowa is nicknamed Little Switzerland. Big hills and thick woods, and streams full of trout.

Most people don't know that though, and I'm good with that. Keeps the California locusts away.

Your side of the Mississippi up there is beautiful.  Sometimes we would cross over at Dubuque or at Prairie du Chien and head north to MN. 

[roamer_1]

I know, Iowa has that reputation, fairly well earned. Most of the corn growing area is the north to northwest half and alot of it is pretty flat, and shoot-me-in-the-head boring.

Hey... You ain't got to defend it. I am sure that there are folks who find sunset over the cornfields to be inspiring. Lots of good folks, probably. Just not me. I know how to use a compass, and I do carry one... But really I never use it. As a hillbilly I navigate by landmarks. So I set store by em. I can't function where there are none. And that is not much of an exaggeration when speaking of Iowa.

It takes mostly a day just to get out of Montana, and once you get past Bozeman heading east, it gets pretty dang boring. But it is still rolling, with some badlands and cattle... When you finally get past all that you figger out God was just easing you into what comes next. 

Southern Iowa is a whole different bird. It gets downright backwoods around Centerville, Albia, and Ottumwa. Some corn country in the SE but otherwise very small town and alot of Amish as you go toward the MO border.

That's a bit better... I can bear Kansas - Again, rolling, with forest here and there... Draws and cuts with creeks and rivers...

NE Iowa is nicknamed Little Switzerland. Big hills and thick woods, and streams full of trout.

Most people don't know that though, and I'm good with that. Keeps the California locusts away.

Well... 'big hill' is probably a bit subjective. 
But I hear ya. 

[Bigun]

Iowa governor signs flat tax bill into law

By DAVID PITT 49 minutes ago

DES MOINES, Iowa (AP) — Iowa Gov. Kim Reynolds on Tuesday signed into law a bill that phases in a 3.9% flat tax over four years, eliminates taxes on retirement income and lowers taxes for corporations at an estimated overall cost of about $2 billion in lower annual total state income when fully implemented.

Republicans pushed the bill through the House and Senate last week in one day, saying they were making historic changes to help Iowans and the state’s economy.

Reynolds signed the bill at LBS, a Des Moines manufacturer and distributor of materials for the production of books and luxury packaging. She was surrounded by Republican legislators and business leaders.

“With this bill, Iowa is now the fourth lowest for individual income tax rates in the nation,” Reynolds said. “There’s never been a better time in Iowa for bold, sustainable tax reform.”

Few Democrats supported the proposal, saying it offered little help for lower and middle class residents who could most benefit from more targeted tax cuts or enhanced government services.

more
https://apnews.com/article/state-of-the-union-address-business-iowa-kim-reynolds-des-moines-45161d72ab4d0e62f9bb81aa7b07a8cd

Still an income tax (spit) but leaps and bounds better than what it was. @mystery-ak

[Wingnut]

...

Well... 'big hill' is probably a bit subjective. 
But I hear ya. 

We calls em "Bluff's" out yonder.