Iowa Senate Committees Advance Governor’s Tax Plan

The first session of the 89th Iowa General Assembly will continue into next week. Legislative leaders in the House and Senate, as well as Governor Kim Reynolds, are still working to reach an agreement on tax policy and the budget for the coming fiscal year.

There was relatively little action at the Capitol this week, but on Tuesday, the Senate Ways & Means and Appropriations Committees passed SF 619, which is the governor’s tax compromise. The bill, which ABI supports, does a number of things to enhance our tax climate. The bill also addresses childcare, housing and economic growth issues. The governor and Senate are in agreement with the legislation, while the House has their own proposal in HF 893, which has passed out of the House Ways & Means Committee. Once a tax bill is agreed upon, the rest of the budget should fall into place fairly quickly.