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Calls on legislators to lower current growth trigger in tax plan
DES MOINES, IA – Americans for Prosperity – Iowa signed onto the National Taxpayers Union coalition letter this morning, applauding the recently-announced compromise between Governor Reynolds and legislators on state tax reform, but urging them to reduce the current revenue growth trigger in the plan from 4 percent to 2.5 percent in the final hours before the vote.
“This proposal is a historic opportunity to give Iowans the simpler, fairer tax code they deserve. But in order for the most substantial cuts in the current plan to occur, Iowa would need to see a nearly unattainable level of revenue growth over the next several years,” said AFP-IA State Director Drew Klein. “This trigger is meant to protect our budget in case of an unexpected downturn in the economy. Setting it much higher than it needs to be will likely prevent the state from ever realizing the benefits of lower rates. Iowans shouldn’t have to wait for 4 percent growth to keep more of their income.”
Several groups have signed on to the letter including AFP, Americans for Tax Reform, the National Taxpayers Union and the Taxpayers Protection Alliance. A vote on the plan is expected Saturday. AFP-IA is currently mobilizing thousands of activist across the state, urging lawmakers to ensure this plan allows Iowans to keep more of their hard earned money.