Work must be done to keep the bottom line of Iowa’s government from growing faster than the bottom line of Iowa families.
The State of Iowa’s Fiscal Year 2021 ended on June 30, with our state collecting $1.14 billion more in taxes than it did the year before. That is a 16.3% year-over-year increase in revenue for the state coffers.
Governor Reynolds and the Iowa Legislature took a great first step to address this massive increase in state tax receipts this spring. By passing and signing Senate File 619 into law, they have delivered the largest income tax cut in Iowa history, while also phasing out Iowa’s inheritance tax. But the debate about how to cut taxes cannot end here.
With a strong economy and growing tax collections, funding government spending priorities and cutting taxes are both possible, and no politician should tell you otherwise.
It’s easy for politicians to yield to the noisy special interests as long as the taxpayer keeps quietly paying the bills.
Make your voice heard! Contact your legislators and tell them to continue to cut taxes.
Inaction on your part will foster inaction on theirs.