Iowa House GOP Votes to Cut Taxes for All Iowans, Hein Runs Bill on House Floor
Today, Iowa House Republicans passed House File 2317, a bill that cuts taxes for all Iowans, through the Iowa House.
HF 2317 reduces the individual income tax for all Iowans to a flat tax of 4%. Additionally, the bill exempts retirement income from income taxes and includes a new income exemption for retired farmers. Representative Lee Hein (R-Monticello) led the bill through the Iowa House.
"Thanks to this bill, every Iowan will keep more of their hard-earned money in their pocket," said Hein. "Right now, Iowa is taking in more money than it needs to run state government. The state has over-collected from Iowa taxpayers and they deserve that money back."
Speaker Pat Grassley (R-New Hartford) praised the bill passing through the House chamber, particularly the exemption for retirement income.
"We see many Iowans retire or change their primary residence to states that do not tax retirement income," said Grassley. "If we can keep those folks in Iowa once they retire, that means they continue to contribute to the economy here in Iowa and to not-for-profits and to their local community. This tax cut plan is simple, sustainable, and cuts taxes for all Iowans. I'm happy to see it get one step closer to the Governor's desk so we can return this overcollection to the taxpayer."