Make Iowa more competitive through tax reform
Iowa’s economy has many positive elements, from the diverse number of businesses and industries, to the productive workforce. However, as other states work to lower their tax rates and simplify their tax codes, Iowa’s tax system is falling behind and holding back the economy from realizing its full potential. As a result Iowa loses businesses, investments and entrepreneurs, who leave the state in search of better economic opportunities. Iowa is not just competing in a globalized economy, but it is also in competition with 49 other states for Americans and jobs.
The American Legislative Exchange Council (ALEC), which publishes the annual Rich States, Poor States: ALEC-Laffer State Economic Competitiveness Index, ranks Iowa 17th in economic performance and 29th in economic outlook in the newly released 10th edition. The Tax Foundation and the Small Business and Entrepreneurship Council have both published studies comparing how the 50 states rank regarding their business climates. Iowa is ranked 40th in the Tax Foundation’s 2017 State Business Tax Climate Index and 42nd in the SBE’s Small Business Policy Index. These respected, non-partisan indices measure a variety of variables that affect the economy of a state.
Read more at The Des Moines Register.
Williams, Jonathan and Hendrickson, John. (2017, April 20) Make Iowa more competitive through tax reform. Retrieved http://www.desmoinesregister.com/story/opinion/columnists/2017/04/20/make-iowa-more-competitive-through-tax-reform/305700001/.