DES MOINES, Iowa (AP) - Iowa Gov. Kim Reynolds has released a tax plan that her staff says would reduce individual income taxes in the state by $1.7 billion by 2023.
The Republican governor released a 107-page bill Tuesday. It's unclear when it will move through the GOP-controlled Legislature, though House GOP lawmakers offered initial support.
The plan would lower tax rates over several years and reduce tax brackets from nine to eight. It would also phase out a system that has allowed Iowans to deduct what they pay in federal income taxes from state tax liability.
Reynolds' staff says the cuts will be partially offset by expanding the state's sales and use tax for some online sales and other changes. Preliminary data shows the state will need to address shortfalls in future years.
Democrats say they're reviewing the bill, which comes amid ongoing budget constraints that have led to agency cuts.
Related Content
- Iowa Governor unveils tax cut plan
- Minnesota Senate GOP unveils tax bill with income tax cut
- Pence touts tax cuts in western Iowa
- Iowa tax cuts could save families money
- Iowa governor calls for sales tax increase, other tax cuts in Condition of the State
- Farm bureau unveils limited health plan that cuts costs
- AP FACT CHECK: Iowa governor's tax cut boast is mostly true
- Iowa Senate GOP proposed over $1 billion in tax cuts
- Critics focus on speed of Iowa GOP tax cut bill
- Iowa Senate OKs $1 billion in future annual tax cuts
