$8.744 Billion General Fund Revenue – March 31, 2019

$8.744 Billion General Fund Revenue – March 31, 2019

The State budget consists of a multitude of taxes, user fees, federal receipts, interest earnings, and revenues from numerous fines and other miscellaneous sources. For Fiscal Year 2016, the state’s total revenue collected was $23.715 billion or $7,573 for every Iowan. All taxes and fees collected by the state are direct …

Does Government “Help” Prevent Growth?

The Iowa legislature is already making progress in creating a more friendly economic environment for job creators by passing needed tax reform legislation. The tax reform bill signed into law by Governor Kim Reynolds begins the process of reducing Iowa’s high individual and corporate tax rates. In addition, this legislation …

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 …

Lowering Rates is a Positive Trend in State Taxation

Several states are moving in the direction of lowering their tax rates to create economic growth. The trend among many states has been to lower both individual and corporate income taxes as well as business and property taxes. In 2016 several states cut taxes and many of those states were …