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Speaker of the House, Pat Murphy said yesterday that the Iowa House is looking to end the ability of Iowans to deduct federal tax payments and use that money for middle class tax cuts.
However, Ed Failor Jr. and the Iowans for Tax Relief oppose a plan to Iowa's tax code that would give 75% to 80% of Iowans a tax cut.In an interview with The Associated Press, Speaker Pat Murphy said there's a good chance lawmakers will take up the proposal in the closing weeks of the legislative session. He said ending the deductions would bring in hundreds of millions of dollars that would enable the state to reduce tax rates for most Iowans.
''It's something that we need, to eliminate federal deductibility and throw it into the rates,'' said Murphy, D-Dubuque. ''Seventy-five to 80 percent of all Iowans will see a tax cut.''
Legislative leaders are counting votes to determine if they have backing for the tax changes, Murphy said.
''If we take it up, we'll have the votes for it,'' he said.
The head of an anti-tax group promised a high-profile campaign to build opposition to the proposal.
''We're going to do direct mail. We're going to do radio. We're going to do television. We're going to do what we do,'' said Ed Failor Jr., president of Muscatine-based Iowans for Tax Relief. ''Their phones are going to light up.''
Failor said staffers are working out the details of the campaign, with commercials already produced and ready to air.
I thought the Iowans for Tax Relief would be in favor of tax cuts for the vast majority of Iowans. Instead it seems they are only in favor of tax cuts for the top 20% to 25% of Iowans.
6 comments:
Tax Cut?!? Wow. You are so far offbased that I can't believe that I'm even gracing your blog with a response.
Any third grader with a calculator knows that this is a huge tax increase on low and middle income people.
Good luck with your lies.
It would be a tax increase if they only ended the ability to deduct federal tax payments.
However, Murphy said the state would take that money and put it into middle class tax cuts, which would be a tax cuts for 3/4's of Iowans.
There plan IS to end federal deductability.
You are only hearing what you want to hear. Murphy said the state would take that money and put it into middle class tax cuts, which would be a tax cuts for 3/4's of Iowans.
Now they might not do that then you can complain, but at this point you have to take them at their word.
If we take them for their word, we know we will never in the light of day see a tax break. Past behavior is a perfect indicator of what's to come.
How many times have we heard this worthless argument on we'll raise this tax to lower the burden on property taxes? Ask anyone, do you ever see the result of your property taxes going down? NO! Transfer of funds here, blow some more money there, and oh no can't afford to give those tax breaks we intended to.
The democrat's good intention ideas with no results are ruining our state.
They aren't saying this will lower the burden on property taxes. They are saying they will lower the burden on the middle class.
I attended a legislative forum yesterday and there were sheets passed around put together by an non-partisan group. The numbers showed that if you make under $127,000 a year you will get a tax cut under this plan.
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