Iowa Democrats unveil proposal to increase child tax credit, cut income tax

  • by:
  • Source: KWWL
  • 07/20/2023
Iowa Democrats unveil proposal to increase child tax credit, cut income tax
Des Moines Capitol Building lit up at night. by Austin Goode is licensed under Unsplash unsplash.com
DES MOINES, Iowa (KWWL)- Iowa Democratic state lawmakers are responding to Governor Reynolds' tax plan with their own proposal.

Governor Reynolds's plan calls for a 4% flat tax for state income taxes, a 5.5% flat tax for corporations and also making most retirement savings tax-exempt.

House Minority Leader Jennifer Konfrst, D-Windsor Heights, described the Democrats' plan as a "fair tax system" compared to what Republicans have proposed.

"We are ensuring there are no corporate tax giveaways, no new tax giveaways to corporations known in tax giveaways to millionaires, no new tax giveaways to special interests," she said. "Our fair tax plan will put more money back in the pockets of working Iowans by lowering income tax rates for the middle class."
Des Moines Capitol Building lit up at night. by Austin Goode is licensed under Unsplash unsplash.com

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