Iowa GOP lawmakers propose a plan to reduce state income taxes by $1B, accelerating previously planned tax reductions to 3.8% by 2025.
Iowa GOP lawmakers propose a plan to reduce state income taxes by an estimated $1 billion, accelerating the previously planned tax reductions. If passed, the income tax rate would be lowered from 4.4% to 5.7% to 3.8% by 2025, providing taxpayers with an additional $1 billion annually. This plan aims to accelerate the tax reductions while still leaving the possibility of eliminating the income tax in the future.
April 18, 2024
12 Articles