Update:  Repeal of Federal Deductibility is tax increase in every tax bracket!

Yesterday’s newsletter addressed the Democrat proposal to eliminate federal deductibility; a tool that allows Iowans to deduct our federal income taxes from our ordinary income prior to calculating our income for state taxes.   This is the largest, and in some cases the only, tax deduction available to many hardworking Iowans. 

Last night the House Ways & Means Committee passed out the proposal on a party line vote.  14 Democrats voted aye – 11 Republicans voted no.   House File 807 is the new bill number as the bill moves forward and becomes eligible for debate in the House.

After having additional time to study the proposal, we have discovered exactly what we expected: more …

A new message from Matt Strawn, Republican Party of Iowa:

DEMOCRATS PLAN TO ELIMINATE FEDERAL DEDUCTIBILITY AND RAISE TAXES ON IOWANS!

ACTION ITEM:  Join US for a Republican Rally at the State Capitol tomorrow night.

Just when you thought things could not get worse at the Democrat-controlled Statehouse, majority Democrats have hatched a plan to raise income taxes on tens of thousands of Iowans by eliminating your right to deduct federal income taxes on your Iowa income tax return.

What Democrats call “tax reform” we see for what it is:  a blatant attempt to use Iowa’s tax code to play destructive class warfare games and redistribute the wealth.  Their plan would result in big tax increases on the very people on which we are depending …