Iowa’s Opportunity for Pro-Growth Tax Reform
The strong national economy provides a golden opportunity for Iowa policymakers to continue to advance bold, pro-growth tax policy, writes ALEC Chief Economist and Executive Vice President of Policy Jonathan Williams and Tax Education Foundation Policy Director John Hendrickson in the Des Moines Register.
In 2018 the Iowa Legislature passed the first major comprehensive tax reform legislation in a decade. Gov. Kim Reynolds, in her Condition of the State Address this year, called for further tax relief. Reynolds and many legislators understand that Iowa needs a pro-growth tax structure that allows Iowans to keep more of their hard-earned income and makes the state more competitive.
Iowa’s economy is doing well and the budget is stable with an estimated $470 million budget surplus, which makes this a golden opportunity for policymakers to make Iowa even more economically competitive through bold tax reform.