After weeks of private negotiations,Iowa Republican legislators are still wrangling over the size and scope of a tax cut package. House Speaker Linda Upmeyer says discussions have been “productive,” but there’s no concensus among Republicans in the House and Senate over how LARGE the tax cut should be. Upmeyer says it takes time to evaluate how different options impact the bottom line.
Senate President Charles Schneider, a Republican from West Des Moines, suggests there’s no rush to strike an accord on taxes or on the related discussion about next year’s state spending plan.
A corporate cut isn’t in the plan Republican Governor Kim Reynolds released in February. She didn’t call for changing tax treatment for credit unions, either. That’s something banks are seeking, and it was included in the Senate G-O-P’s plan. That Senate G-O-P plan called for a billion dollars’ worth of tax cuts annually. Governor Reynolds’ plan would amount to about 300-million dollars in cuts per year.
