Iowa Lawmakers Aiming For Income Tax “Moon Shot”

Date: December 10, 2021

Sen. Dawson says the 2022 session will focus on bold tax policy changes

This week, Senate Republicans announced they are looking for a “moon shot” change in state tax policy, with the ultimate goal of eliminating the income tax. Lawmakers noted they are exploring options aimed at creating a “21st-century model” that would move Iowa among the top U.S. state with competitive tax codes.

Sen. Dan Dawson, chairman of the Senate Ways and Means Committee, said he is aiming for a reduction in personal income tax rates and would be a willing partner to substantially lower the corporate income rates. He said the session’s focus will be on making bold tax policy changes rather than doing across-the-board rates cut.

Other lawmakers are advocating for returning surplus revenue to Iowa taxpayers while meeting budgetary obligations and revisiting policy discussions related to local property tax burdens and tax credits already on the books for corporations and various taxpayer classes.

NFIB is encouraging small business owners to reach out to their lawmakers and explain how tax cuts would be beneficial to their businesses. Take action here

Related Content: Small Business News | Iowa | taxes

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