Iowa’s Republican governor and Republican legislators announced a tax agreement on Friday evening, but the legislation to implement the plan was still being written. Senator Randy Feenstra, a Republican from Hull, says for tax year 2019, the cuts will be solely on individual income taxes.
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Feenstra says corporate tax cuts will take effect a couple of years from now.
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Feenstra is chairman of the Senate Ways and Means tax-writing Committee. The leader of the Iowa Democratic Party says Republicans are giving tax cuts to the wealthy and special interests in the midst of a state budget crisis. Troy Price says Governor Reynolds and her fellow Republicans are engaged in a “budget-busting free-for-all” for corporate donors.