• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / News / Senate GOP plan would cut taxes by $4 billion over five years

Senate GOP plan would cut taxes by $4 billion over five years

February 28, 2018 By O. Kay Henderson

A new analysis from the non-partisan Legislative Services Agency indicates the tax plan Senate Republicans may debate as soon as today would cut Iowans’ taxes by $200 million next year.

The state has a more than $7.2 billion budget this year. Five years from now, the new analysis indicates the state will be taking in more than a billion dollars less in tax revenue if the Senate GOP’s plan becomes law. Democrats say that would “break the state budget” and is “more fiscally irresponsible than first imagined.”

Republicans in the Senate use the word “bold” to describe their tax plan and say it will stimulate the state’s economy, although they promise to cut the budget as well. Republicans in the House are using Republican Governor Kim Reynolds’ tax proposal as their starting point. Reynolds has called for waiting to cut corporate taxes, but cutting income taxes for individuals now. Her plan would reduce taxes by $1.7 billion over six years. The Senate Republican plan would reduce taxes by more than $4 billion over the next five years.

Share this:

  • Facebook
  • Twitter

Filed Under: News, Politics / Govt Tagged With: Democratic Party, Legislature, Republican Party, Taxes

Featured Stories

Speakers at trooper’s funeral describe Sgt. Smith as selfless, man of faith

Iowa unlikely to join 26 states with hands-free driving laws

Reynolds says Johnson & Johnson vaccine pause manageable

Iowa State Patrol tactical team leader killed in Grundy Center stand-off

Finalists chosen for the state’s top burger

TwitterFacebook
Tweets by RadioIowa

High school sports and activities to pause for one week in July

Hawkeyes add post player

UNI’s Warren agrees to contract extension

Iowa State signs Kansas transfer

Drake elevates Pohlman to head women’s basketball coach

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2021 · Learfield News & Ag, LLC