Republicans in the Iowa Senate Wednesday night cast their “yes” votes for their tax bill that would ultimately cut state taxes by more than a billion dollars a year.
There was a sharp exchange when Democratic Senator Herman Quirmbach asked Republican Senator Charles Schneider where the G-O-P planned to cut the state budget to make up for the tax reductions.
Senator Matt McCoy, a Democrat from Des Moines, says it was the “height of fiscal irresponsibility” to cut taxes by a billion dollars a year.
Senator Randy Feenstra of Hull, the Republican architect of the plan, responded at the close of the debate.
OC….THOUSAND DOLLARS :13
A nonpartisan agency estimates the bill would cost the state more than $200 million for the budget year that begins in July.
That figure would rise to more than $1.1 billion annually by 2023.
The package heads to the GOP-led House, where its future is uncertain as legislators there consider a tax plan proposed by governor Kim Reynolds.
Radio Iowa contributed story