The Rozenboom Report – April 13, 2018
by Ken Rozenboom
IN THE LEGISLATURE
Greetings from the beautiful Iowa State Capitol! We are fast approaching April 17, the 100th day of the legislative session, meaning the end of the 87th General Assembly must be getting close. The capitol is getting a little quieter, with fewer and fewer visitors. But there is still important work to be done on tax reform and the budget appropriations for the fiscal year 2019.
TAX RELIEF
It has been 20 years since the Iowa Legislature last passed income tax reform. Data repeatedly proves that the fastest growing states in the country are those who have the lowest or no state income tax. Unfortunately, Iowa has the fourth highest personal income tax and the highest corporate income tax in the country. Our goals for tax reform are simple: provide relief to Iowans with lower tax rates, create a fairer tax structure, increase the simplicity of the tax code, and create an incentive to work and invest.
Some of you may remember that not too long ago, according to the reputable US News and World Report analysis, Iowa is the #1 state in the country. The publication gave Iowa high rankings in education, infrastructure, and health care. However, Iowa has relatively low rankings on business environment and tax rates, and we need to do better.
Our state is a leader in a number of areas and we want to continue being a model for the rest of the nation. As we continue our work on health care, growing our workforce, and encouraging our state’s entrepreneurs, it is essential we also find ways to encourage growth and respect the Iowa taxpayer.
The House and the Senate each have their version of a tax reform package, with the Senate reform plan being much more significant. So negotiations will continue between the two chambers, and of course with the governor.
BILL SIGNINGS
This week Governor Reynolds signed a number of bills, including Senate File 2177. This is an important bill for consumers and Iowans who have been victimized by security breaches. Consumer reporting agencies will no longer be allowed to charge a fee for taking the necessary steps to protect consumers. Additionally, the bill updates the code to reflect changes in technology so companies will now be required to allow consumers to request a freeze by mail, telephone, email, or through a secure online connection. With the governor’s signature, this policy is effective immediately.
SPECIAL VISITOR PEGGY WHITSON
No other female in history has spent more time living and working in space. She was the first astronaut to grow a soybean crop in space. Spending over 665 days in space has earned her the nickname “Space Ninja”. But to us, she is an Iowa hero, born and raised in Mount Ayr. Her name is Dr. Peggy Whitson and I had the privilege of meeting her on Thursday when the House and Senate honored her.