CGI statement: No room for new tax cuts in revenue forecast

FOR IMMEDIATE RELEASE, DEC. 13, 2021

DES MOINES, Iowa — Common Good Iowa released the following statement from deputy director Mike Owen, responding to new projections from the state’s Revenue Estimating Conference and Gov. Kim Reynolds’ call for additional tax cuts:
 

“Like many states, Iowa is projecting stronger revenues than predicted for this fiscal year, largely driven by federal relief dollars. The projected increase for FY 2023 remains very small — clearly not enough room for tax cuts when just keeping up with costs will be a challenge.
 
“Iowa cannot afford a continued mentality of tax cuts at any cost — and does not have to. We can and should choose a different path by creating a tax system that asks the wealthiest Iowans and profitable corporations to pay their share, lives up to our state’s historic commitment to education, and promotes good health, environmental quality and affordable, quality child care.”

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For More Information:

Contact: Mike Owen, mowen@commongoodiowa.org