Legislators plan 10 million in tax cuts

Republican legislators plan to advance about 10-million dollars in tax cuts, but not all Iowans will benefit. Iowa’s elderly will get to keep a little more of their pension income, tax-free. Businesses which conduct research will get a little tax break. Iowans who buy clothes on one weekend in August will do so without paying sales taxes on most of their purchases. The Republicans call that “Tax Freedom” weekend. Iowans who fix-up historic property will get an income tax credit. And business owners who fix offices so they can hire a disabled worker will be a tax break. Representative Jamie Van Fossen, a republican from Davenport, heads the House Ways and Means, tax-writing Committee. He says the governor doesn’t want more tax cuts, so they have to limit what they offer.Senator Larry McKibben, a republican from Marshalltown, calls the package “tax light.”