Today is Wednesday, 20th November 2024

IA: Pivotal Point in Tax Tempest

This suppression of the peoples voice is going national.  The Democrat Speaker from Iowa may have just set the future of his party back years.  We don’t think that’s a bad thing.  Stay tuned – and watch your favorite national blogs and other media outlets for more on this story.  From the DesMoinesRegister:

House File 807 could come up for debate in the Iowa House as early as today and in the Senate on Friday. Less than 24 hours after a raucous public hearing that ended with State Patrol troopers clearing the Iowa House chamber, Majority Leader Kevin McCarthy said he had enough votes in the House to pass the bill.

The bill would end Iowans’ ability to subtract what they pay in federal income taxes from their income when figuring their state taxes. The additional revenue from the change, $595 million, would be returned to taxpayers through lower state income tax rates.

Low- and middle-class families would see the greatest breaks, Democrats say.

Read the Rest…

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