Iowa governor signs state's biggest-ever tax cut into law

Reuters ^ | June 12, 2013 | by Hilary Russ

[Oldeconomybuyer]

Iowa Governor Terry Branstad signed what he said was the biggest tax cut in the state's history into law on Wednesday, saying it will spur growth in the state's economy.

The law is expected to provide at least $4 billion in property tax relief over a decade. In 10 years, both agricultural and residential property taxpayers will be saving about $500 million annually because of a reduction, to 3 percent from 4 percent, in the growth of property assessments.

The bill also includes nearly $90 million of annual cuts to income taxes, Branstad, a Republican, said in a statement.

"I am proud to say this tax cut passed with bi-partisan support," Branstad said in the statement. "This tax relief bill will put more money in the pockets of Iowa families and make it easier for Iowa businesses to invest and grow in our state."

[DManA]

Iowa cuts taxes, Wisconsin cuts taxes, N,S Dakota already has low taxes.

Mn. raises taxes.

Prospects are not bright for the Gopher state.

[jjotto]

http://theiowarepublican.com/2013/branstad-signs-historic-education-reform-bill/

...Governor Terry Branstad signed a long- awaited education reform bill into law Monday morning...

...The bill, House File 215, is lauded by homeschooling advocates. It provides greater freedoms to that community by removing reporting requirements homeschoolers were required to provide to local districts and the state. The reform package also allows homeschooling parents to teach driver’s education.

Another key component includes the implementation of leadership roles for experienced teachers, who can earn bonuses for mentoring less-experienced educators. Starting teacher salaries in Iowa will also be increased...

[17th Miss Regt]

Cutting taxes? Homeschooling? Oh, my God!

Another massive tsunami of racial hatred courtesy of the Republican party against a Black Man in the White House (TM)!

[Grams A]

We don’t have state income tax in Texas but our property taxes are sky high and climbing. Had hoped the Legislature would take some of their extra income and give us a break this year but no such luck. Instead they restored some of the funding cut to schools during the last session. Big waste of money.

[DManA]

Why is it so obvioius to us and so opaque to our friends and neighbors?

No good answer I guess.

[Henchster]

In 10 years, both agricultural and residential property taxpayers will be saving about $500 million annually because of a reduction, to 3 percent from 4 percent, in the growth of property assessments.

This is NOT a tax cut. This is a reduction in the "planned" increase. Nobody's property tax is going to go down, they are ALL going to up, just not as fast (notice I didn't say as far) as the politicians tell us they were going to.

This is an old liberal trick that too many Republicans (notice I didn't say conservatives) are pulling that needs to stop, and would, if we had a REAL media calling them out, instead of re-spewing the lies.

Hey Branstad, we've figured it out, the reason it passed with "bi-partisan" support is you either got suckered by the liberals, or you are one.