This year’s funnel week has been completed. Funnel week is a busy time for us legislators, however we were ready to get to work! Here are your week six highlights.
This week, Iowa House Republicans passed a bill to cut taxes for every Iowan. The Biden Economy is hurting Iowa families and we need to deliver relief now. Our plan reduces the individual income tax for all Iowans to a flat tax of 4%, exempts retirement income from income taxes, includes a new income exemption for retired farmers.
Thanks to the Governor’s leadership and House Republicans’ conservative budgeting practices, Iowa’s economy remains strong. The ending balance remains healthy, we continue to fulfill our commitments to the taxpayers, and the Taxpayer Relief Fund has reached over $1 billion. The state’s finances are so strong that we are able to deliver historic tax relief while continuing to fund Iowans’ priorities. The state of Iowa is taking in more money than it needs.
And we believe we need to return this over-collection to the taxpayers.
A big part of our tax plan is making all retirement income in Iowa tax free. How retirement income is taxed in each state can have a big impact on where folks choose to retire and make their primary state of residence. We see many Iowans move or change their primary residence to states like Florida, Texas or even Illinois that do not tax retirement income. If we can keep those folks in Iowa once they retire, that means they continue to contribute to the economy here in Iowa, to not-for-profits and to their local community.
This week, the House Veterans Affairs Committee passed House Study Bill 47 to find additional ways to increase the investments of the Veterans Trust Fund. The committee has also passed House File 2293 that will increase the amount sent to the Commission of Veterans Affairs from the State Lottery Fund from $500,000 to $800,000 annually.
It is an honor to be in Des Moines representing District 95 and the people of Iowa. I encourage my constituents to contact me using my legislative email ([email protected]) with any comments, questions, or concerns. I look forward to another great week of representing the people of District 95!