Business Day in Des Moines a Huge Success – Taxes Take Center Stage In Remarks

If you were among the 190+ participants at the March 7, 2023 Inaugural ABI Business Day in Des Moines, you received a glimpse into the crystal ball of future tax policy in Iowa.

The crowd assembled was treated to remarks by Governor Reynolds and legislative leadership from both parties. View photos of the event here: www.iowaabi.org/events/photos. On taxes, Governor Reynolds reminded attendees of all that had been achieved in income tax reform and reduction in 2018, 2021 and 2023. A great cover story in this publication goes into detail on how that policy will affect business taxpayers. The Governor ended her remarks on taxes by teasing what she is yet to propose on income tax policy during the 2024 session. (More income tax relief?)

House Speaker Grassley and Senate Majority Leader Whitver shared the podium and explained how their respective chambers are both considering measures to control the cost to individuals and businesses when property valuations spike. The approaches are not the same, but there is a desire in both chambers to limit the manner in which increased assessments drive budget growth at the local government level. The next weeks will tell the tale of whether they can harmonize the competing approaches and deliver more certainty and potential relief to property taxpayers.

From the income rate reductions already passed, to the focus on property taxes, ABI public policy priorities have outlined how prudent tax policy can lead to prosperity for businesses and individuals. The involvement of ABI members in events like the Business Day in Des Moines let policymakers get real-time feedback on policies they are considering. At other times of the year, during regional meetings, the meetings of the ABI policy committees or the January Legislative Briefing and Reception, members can shape policy with their participation.

Help ABI be successful in policy advocacy by getting more involved in policy development and promotion by going to our events page at https://www.iowaabi.org/events/ and signing up for a committee or policy event.