IOWA Small Business: NFIB 2023 Iowa Legislative Priorities

December 14, 2022

IOWA Small Business: NFIB 2023 Iowa Legislative Priorities

NFIB here in Iowa is gearing up for the 2023 legislative session, which begins on January 9th. Here are the issues that NFIB will be tracking for small business owners.

NFIB, or the National Federation of Independent Business, has over 11,500 members in Iowa, nearly 300,000 members nationwide and a presence in all 50 states.
95% of NFIB Members have 10 employees or less and represent every industry from family farms to manufacturers to small-town store fronts.
Small business owners are job creators who employ nearly 650,000 people in Iowa.

Property Tax Reform

Property taxes in Iowa are too high, uncompetitive and have increased by more than 120% in the last twenty years.

Out of control city and county budget increases along with unfair tax exemptions have created an unsustainable property tax climate that continues to shift the burden of paying for essential public services onto the backs of small businesses and their employees.

NFIB is urging Iowa Legislators to look at ways to rein in city and county budgets, limit property tax exemptions and equalize the playing field for ALL property taxpayers in Iowa.

Income Tax Reform

One of the top priorities for NFIB small business members continues to be the lowering of Iowa’s personal income tax rates.

The best and most fair way to give every small business and their employees more of their hard-earned money while ensuring continued economic growth in Iowa is through personal income tax cuts.

NFIB is urging Iowa legislators to maintain a fiscally responsible budget, ensure that future income tax reductions remain on track and continue to find ways to lower and eliminate Iowa’s personal income tax rate.

Frivolous Lawsuit Reform

In the past several years, Iowa has seen a substantial jump in high-dollar medical malpractice awards and excessive settlements against Iowa’s trucking industry.

Trial attorneys have deployed new tactics to exploit Iowa’s current soft cap on noneconomic damages resulting in higher healthcare costs, the reduction of access to care through closures of hospitals and clinics and the skyrocketing price of commercial trucking insurance.

NFIB is urging Iowa Legislators to end the trend of outrageous and unfair litigation tactics in Iowa, restore fairness to the system, establish a hard cap on non-economic damages and provide much needed cost relief for small business.

Topics:

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State:

Iowa

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