Governor rejects opponent’s economic stimulus package

Democrat Governor Tom Vilsack is rejecting the economic stimulus package his Republican rival, Doug Gross, advanced yesterday. Doug Gross, the Republican candidate for Governor, proposes a series of business tax breaks he says will “jump start” Iowa’s economy and create jobs. 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 also proposes extending statewide other tax breaks, like an exemption from the sales tax for building materials, that’re in effect now for businesses in so-called “enterprise zones.” Governor Vilsack says the plan is “designed to benefit a handful of corporations, at a cost of tens of millions of dollars to the state.” Vilsack says “Mr. Gross’s plan is a continuation of his lobbying career which” Vilsack says “was built around making sure big business benefits before working families.”