DES MOINES, Iowa (Iowa Media Wire) — One of Iowa Gov. Kim Reynolds’ top priorities for the state is cutting taxes, but the state auditor warns that the proposed cuts need more transparency.
Part of the governor’s proposal would speed up individual tax cuts. A 2022 law is set to bring in a flat tax rate of 3.9 percent by 2026. Reynolds’ bill would drop tax rates to 3.65 for 2024, and then 3.5 in 2025. The current top tax rate for individuals in Iowa is less than 6 percent.
State Auditor Rob Sand said tax cuts are a good thing, but more information is needed.
“I think what we’re seeing here once again is a proposal to cut taxes without any conversation at all about what services are going to be cut at the same time,” Sand said. “Are we going to have more potholes in our roads? Are we going to have fewer patrol officers out, keeping us safe? What’s it going to be?”
The governor’s tax proposal has been assigned to the Ways and Means Committee, but is not currently scheduled for discussion.