From Senator Rich Taylor

Written by Theresa Rose on May 10, 2018

The 2018 session ended with last-minute approval of a tax plan that gives most of the benefits to out-of-state companies, millionaires and non-Iowans.

I voted “no” on SF 2417 because the Legislature can do better. This bill is a bad deal for most Iowans. It will raise property taxes on families, seniors and small businesses, and will mean even more cuts to health care, job creation, education and other critical services.

Senate Democrats came into the 2018 session promising to support tax reform that would:

  • Make the tax system fairer for working families and small businesses.
  • Make Iowa businesses more competitive.
  • Take into account our current budget crisis.
  • Tackle corporate tax giveaways, the fastest growing part of the state budget.

The tax plan passed on the last day of session failed every one of those tests.

According to the Iowa Fiscal Partnership, the “tax overhaul for Iowa means less revenue, greater inequity favoring the wealthy, while missing the mark on promised reforms for simplification and middle class.”

It overwhelmingly benefits the wealthy and special interests, while one-third of Iowans get nothing or end up paying more—more in property taxes, more in sales taxes, more in tuition at community colleges and state universities.

After several rounds of cuts to critical services and borrowing money to balance the state budget, this tax giveaway for millionaires, big corporations and non-Iowans all but guarantees everyday Iowans will continue to see cuts to the basic services Americans expect from their government—education, job creation, public safety and health care.

This tax plan could put Iowa on the same disastrous path as Kansas and Oklahoma, which failed to create jobs and increase family incomes.

To learn more about how the new tax plan could impact you, check out analysis from the Iowa Fiscal Partnership.

 

 

Additional information

This is a legislative update from State Senator Rich Taylor, representing Henry and Lee counties and portions of Washington and Jefferson counties. For bio, photos and further information, go to www.senate.iowa.gov/senator/taylor.

To contact Senator Taylor when the Legislature is in session, call the Senate Switchboard at 515-281-3371. Otherwise he can be reached at 319-931-1568. E-mail him at rich.taylor@legis.iowa.gov.

Senator Taylor is ranking member on the Judiciary Committee. He also serves on the Agriculture and Labor & Business Relations committees.