The liberal Iowa Public Policy Project is joining the Governor’s call for closing corporate tax loopholes that the group says big retailers like Wal-Mart use to escape paying their fair share of state taxes. David Osterberg of the Iowa Public Policy Project says companies use strategies to show more income in states which have lower or no corporate income taxes. Osterberg says the state of Iowa could gain as much as 40 million dollars if it changed the way companies are required to report profits. Osterberg says not only would the state gain tax dollars, it’s also — in Osterberg’s opinion — “fair.” But Republicans control the legislature’s debate agenda, and Senate Republican Leader Stewart Iverson of Dows accused Osterberg of never meeting a tax increase he didn’t like. Iverson says he’s not interesting in raising corporate taxes, or raising the cigarette tax or extending sales taxes to more services, like accounting. Iverson says he will not speak for anyone but himself, but says he “will not vote for a tax increase.” Iverson says there are “thousands upon thousands of Iowans” who aren’t getting a pay increase, and a tax increase just takes more money out of their already-depleted pockets. Iverson hints that he won’t be swayed by the arguments from educators that schools are in dire straights and need more state aid.Iverson says “you are going to hear at least once a week that the sky is falling.” Iverson says Iowa has a quality education system and per pupil spending is in the “middle of the road.” Iverson says while state aid has increased by 300 million dollars over the past five years, the number of students in Iowa’s K-through-12 public schools has declined by 18-thousand.
You are here: Home / Politics / Govt / Group favors closing tax loopholes