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Kim Reynolds on Tax Reform

 

 


Reduce top state income tax rate to 5.5% by 2023

I have no interest in raising taxes, so any increase in revenue from a sales tax must be more than offset by additional tax cuts. I'm proposing to cut income taxes by an additional 10% for almost every Iowan, with lower-income Iowans receiving as much as a 25% cut next year. Just one year ago, our top tax bracket was at almost 9%, one of the worst in the country. Our top rate will be down to 5.5% by 2023--significant progress that will make Iowa competitive with our peers.
Source: 2020 Iowa State of the State address , Jan 14, 2020

Update Iowa tax code to take advantage of federal tax cuts

Last month, Congress passed historic tax reform. For that, I want to thank Congress and the President.

But here's the thing: Because of an outdated provision in Iowa's tax code, Iowans will see a tax increase if we don't pass tax reform at the state level. Iowa is 1 of only 3 states that allow taxpayers to deduct their federal taxes. While that might sound like a good thing, right now it's not. It creates complexity, and worse--it means that when your federal taxes go down, your Iowa taxes go up.

With federal deductibility in place, when the federal government cuts taxes for working-class families, Iowa raises taxes on those same families. That's not just a hypothetical. It's what will happen if we don't act.

Therefore, I will be proposing a tax reform package that significantly reduces rates, modernizes our tax code, and eliminates federal deductibility. This is an opportunity to free us from decisions made in Washington, D.C. and simplify our tax code.

Source: 2018 State of the State speech to Iowa legislature , Jan 9, 2018

Other governors on Tax Reform: Kim Reynolds on other issues:
IA Gubernatorial:
Andy McGuire
Cathy Glasson
Chet Culver
Fred Hubbell
Jack Hatch
Jake Porter
Marco Battaglia
Nate Boulton
Rich Leopold
Terry Branstad
Tom Hoefling
IA Senatorial:
Bob Krause
Chet Culver
Chuck Grassley
Eddie Mauro
Joni Ernst
Kimberly Graham
Patty Judge
Rob Hogg
Theresa Greenfield
Tom Fiegen

Gubernatorial Debates 2019:
KY:
Bevin(R) vs.Goforth(R,lost primary) vs.Adkins(D,lost primary) vs.Beshear(D) vs.Edelen(D,lost primary)
LA:
Edwards(D) vs.Rispone(R) vs.Abraham(R) vs.Kennedy(R,declined)
MS:
Bryant(R,retiring) vs.Foster(R) vs.Hood(D) vs.Reeves(R) vs.Waller(R)

Gubernatorial Debates 2021:
NJ:
Murphy(D) vs.Ciattarelli(R)
VA:
Northam(D,term-limited) vs.Herring(D) vs.Chase(R) vs.Fairfax(D)

Gubernatorial Debates 2020:
DE: vs.Carney(incumbent) vs.Williams(D)
IN: vs.Holcomb(incumbent) vs.Melton(D) vs.Myers(D)
MO: Parson(incumbent) vs.Galloway(D) vs.Neely(R)
MT: Bullock(retiring) vs.Fox(R) vs.Perry(R) vs.Gianforte(R) vs.Stapleton(R) vs.Olszewski(R) vs.Neill(D) vs.Schreiner(D) vs.Cooney(D) vs.Williams(D)
NC: Cooper(incumbent) vs.Forest(R) vs.Grange(R)
ND: Burgum(incumbent) vs.Coachman(R) vs.Lenz(D)
NH: Sununu(incumbent) vs.Volinsky(D) vs. fsFeltes(D)
PR: Rossello(D) vs.Garced(D) vs.Pierluisi(D)
UT: Herbert(retiring) vs.Huntsman(R) vs.Cox(R) vs.Burningham(R) vs.Newton(D) vs.Hughes(R)
VT: Scott(incumbent) vs.Holcombe(D) vs.Zuckerman(D)
WA: Inslee(incumbent) vs.Bryant(R) vs.Fortunato(R)
WV: Justice(incumbent) vs.Folk(R) vs.Thrasher(R) vs.Vanover(D) vs.Smith(D) vs.Ron Stollings(D)
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Page last updated: Apr 17, 2020