GOVERNOR KIM REYNOLDS HAS SIGNED A WIDE-RANGING BILL INTO LAW THAT CUTS PERSONAL INCOME TAXES, PHASES OUT THE STATE INHERITANCE TAX AND ERASES A PROPERTY TAX LEVY USED TO FINANCE MENTAL HEALTH SERVICES.
STATE MONEY IS TO BE USED TO FINANCE THE MENTAL HEALTH SYSTEM.
TAXCUT1 OC……….WILL PROVIDE.” :09
REYNOLDS CALLED THE ENTIRE PLAN — WHICH INCLUDES TAX CREDITS FOR FIRE FIGHTERS AND FOOD BANKS — A LANDMARK PIECE OF LEGISLATION.
TAXCUT2 OC……..EVEN FURTHER. :08
REYNOLDS TOLD REPORTERS AFTER THE CEREMONY THAT SHE’LL CONSIDER ALL OPTIONS FOR LOWERING PERSONAL INCOME TAXES, BUT ISN’T READY TO RELEASE A PLAN.
TAXCUT3 OC……….IMPORTANT TO IOWANS.” :13
THE STATE’S FISCAL YEAR WILL END ON JUNE 30TH AND CURRENT PROJECTIONS INDICATE THE STATE WILL HAVE A 500 MILLION DOLLAR SURPLUS.
REYNOLDS SAYS THE ULTIMATE GOAL IS TO ERASE THE PERSONAL INCOME TAX ALTOGETHER.
