Republican lawmakers say they’ve presented Democrat Governor Tom Vilsack with his one and only chance to create a new state economic development fund. The Senate yesterday gave final approval to a package that cuts income taxes by about 300-million, changes business regulations, revamps the property tax system and establishes a half a billion dollar economic development fund. Senate Republican Leader Stewart Iverson of Dows says Republicans delivered because the Governor asked for a 500-million dollar fund, and that’s what he got. Vilsack says he wants to review the entire package before making a pronouncement. Iverson says the bills that cleared this week’s “special” legislative session are the G-O-P’s final offer. Iverson says many Republicans oppose the premise that Iowa needs a new economic development fund, but he says they were willing to compromise if Vilsack goes along with the tax cuts and regulatory reforms. Iverson says it would be fruitless for the Governor to veto the bills and call legislators back for a second “special” session. Iverson says Republicans lawmakers are “not coming back” to Des Moines to debate the same issues. Iverson says “we’re not doing it again” and Vilsack has “one shot” and “one chance” to get his “Iowa Values” fund and that’ll require signing the bills lawmakers sent him yesterday. Senate President Mary Kramer, a republican from Clive, says it was time to make a decision. Kramer says it’s a bit like word processing, “if you’re not careful you continue to edit and edit and edit.” Kramer says the legislature “hit print” and is done with its work.
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