Iowa taxpayers will keep over $1 billion more in their bank accounts over the next eight years.
This is why ITR fights. This is what YOU told lawmakers to get done.
The path to success wasn't smooth. However, due to the Iowa Senate driving the conversation, Governor Kim Reynolds' leadership, and support from the Iowa House, bi-partisan tax relief is set to finally be delivered.
This bill will:
- Cut the top individual income tax rate to 6.5%
- Eliminate Iowa's inheritance tax
- Exempt Paycheck Protection Plan dollars from state income tax
- Reduce property taxes by eliminating the county mental health levy and funding mental health services through the state's budget
- Phase-out the state's "backfill" paid to cities, counties, and school districts
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