Iowa Revenue Source

Iowa Revenue Source

Do you know that the income taxes you pay to the state of Iowa makes up the majority of the General Fund budget? Iowa’s General Fund is supported not just by income taxes, but also sales and a variety of other taxes, fees, and revenue sources. In addition, the budget …

Steps to an Economic Recovery

Steps to an Economic Recovery

The coronavirus (COVID-19) is frightening enough, but the economic consequences of the virus makes the situation even more terrifying. As a result of COVID-19, thousands of Iowans are filing for unemployment and businesses across the state are trying to fend off bankruptcy. The current “cure” or deterrent to stopping the …

Prepare for Impact

Prepare for Impact

The threat of a national economic recession hangs over the United States as a result of the health emergency caused by the COVID-19 (coronavirus) pandemic. While much attention has been paid to what lawmakers in Washington D.C. have done, states and localities are also bracing for an economic recession. A …

COVID-19’s Economic Impact Uncertain

COVID-19’s Economic Impact Uncertain

  In our current situation, prudence is the best fiscal policy.   The economic impact of COVID-19 or the coronavirus is still uncertain. This national health emergency has resulted in business closures, unstable markets, and uncertainty as to when Americans can return to normalcy. Prior to COVID-19, the national economy, …

Tax Relief and Economic Growth

Tax Relief and Economic Growth

Iowa begrudgingly endures some of the nation’s highest personal and corporate income taxes. Those high taxes hamper economic growth and make our state less affordable for families and less competitive for businesses. Even after recent improvements, tax reform remains a high priority for the Hawkeye State.   So we applaud …

Our Taxes Aren’t “Iowa Nice”

Our Taxes Aren’t “Iowa Nice”

A businessman in Sioux City recently stated it very plainly to us:  “We have stores in seven states.  Iowa is more expensive for property taxes than any other.”   Iowans are, for the most part, hardworking, friendly, and willing to help a stranger in need. Many call this “Iowa nice.”  …

Will Polk County Property Tax Relief be Wiped Out?

Will Polk County Property Tax Relief be Wiped Out?

Property tax bills might increase from valuation growth more than the promised reduction from increasing the sales tax.   Many property owners in Polk County received a shock recently as they opened their new property tax assessments. Assessments in Polk County increased from 7.1 percent in Johnston to 11.6 percent …

Stop Blowing Smoke: Snuff Out a Tobacco Tax Increase

Stop Blowing Smoke: Snuff Out a Tobacco Tax Increase

There are renewed calls for a cigarette tax increase, despite evidence that sin taxes fall short in revenue generation and in their attempt at social engineering. Once again anti-smoking advocates are calling for a tax increase in Iowa, this time to the tune of $1.50 more on each pack of …

Government’s Unquenchable Appetite for Tax Dollars

As Iowa’s tight budget situation lingers, the call for additional revenue sources continues to grow. The Des Moines Register recently published an editorial advocating a tax increase on beer to fund various programs and law enforcement efforts to deal with alcohol-related issues. The editorial board argued that a higher beer tax would discourage drinking …