Iowa governor signs flat tax bill into law
By DAVID PITT
Associated Press
DES MOINES, Iowa (AP) — Iowa Gov. Kim Reynolds has signed into law a tax bill that creates a 3.9% flat tax in four years, eliminates taxes on retirement income and lowers taxes for corporations at an estimated cost of about $2 billion to state income but with little impact for many middle class and low income earners. Democratic Party Chairman Ross Wilburn says the bill hands millionaires an extra $1,200 a week, while teachers and truck drivers get less than $12 a week. Also Tuesday, Reynolds is scheduled to give the Republican answer to President Joe Biden’s State of the Union address, an opportunity that gives her a bright national spotlight to tout her accomplishments.
