A researcher at a “think tank” based in Mount Pleasant says the 810-million dollar economic growth fund that’s already been endorsed by the Governor and the Iowa House will do little to stimulate Iowa’s economy. David Hogberg of the Public Interest Institute says the majority of academic research he’s reviewed concludes state economic development spending has little effect on growth. Hogberg says the so-called “Iowa Values Fund” is unlikely to have much impact on Iowa’s long-term economic growth. Hogberg says “the literature suggests tax cuts would be a more promising economic growth policy.” Hogberg says income and property tax cuts appear to be the best avenues to pursue. Hogberg says higher taxes stifle economic growth.
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