Tax Reform Doesn't Come Up in Governor's Speech

Date: January 31, 2017

Gov. Terry Branstad is calling for $110 million in cuts and adjustments to the budget this fiscal year, according to the Des Moines Register.

The announcement came during Branstad’s Condition of the State speech last month, when he also introduced his budget proposals for the next two fiscal years.

In discussing the budgets, the governor said he wants to modernize water quality infrastructure to give the state cleaner water while creating jobs in rural areas. He also announced a program encouraging every school in Iowa to offer a computer science course.

“This is another step to better align education and training with essential workforce needs,” he said.

Branstad’s speech didn’t, however, mention personal income tax reform, which small businesses have been seeking.

Sen. Randy Feenstra, chairman of the Senate Ways and Means Committee, said such a bill will be introduced anyway.

“We will have a comprehensive tax reform bill this session, and I just hope that we can work with the governor and the House to get something very significant passed,” he told The Gazette. “It’s going to have to be over multiple years, but you create the framework saying this is what’s going to happen.”

Branstad’s Condition of the State called out manufacturing in particular as an Iowa success story and area for future growth efforts.

“In total, Iowa has over 6,100 manufacturers that contribute more than $31 billion to Iowa’s economy and employ over 200,000 Iowans,” he said. “Over the next year, the Iowa Economic Development Authority will work with Iowa’s manufacturers to advance a ‘Year of Manufacturing’ in Iowa to help grow this important part of the Iowa economy.”

Related Content: Small Business News | Economy | Iowa

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