Doug Gross, the Republican candidate for Governor, is proposing a series of business tax breaks he says will boost Iowa’s economy.Gross says over a thousand layoffs have been announced in the past two weeks, and it’s time to “jump-start” the economy. Gross proposes a tax credit for businesses that buy new machinery and equipment, as well as doubling the tax credit for research and development. Gross says businesses would only qualify for the new tax credits if they pay at least 110 percent of the county-average wage. He says Iowa is the only state among neighboring states to lose population, and Gross says low wages are part of the reason. Gross wants to change job training programs, too.Gross also proposes extending statewide other tax breaks, like an exemption from the sales tax for building materials, that’re in effect now in so-called “enterprise zones.” Gross says in three years, once the state’s budget problems have been fixed, he’d propose dramatic changes in Iowa’s income and property tax systems.
