Home Local News REYNOLDS SIGNS TAX CUTS INTO LAW

REYNOLDS SIGNS TAX CUTS INTO LAW

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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.