Kim Reynolds Endorses GOP Tax Scam Despite Damage It Would Do to Working Iowans
As the Senate prepares to vote on the Republicans’ tax scam bill to raise taxes on millions of working Americans, Governor Kim Reynolds is putting her political party and special interest backers ahead of Iowa families who would be hurt by this plan.
People all across Iowa agree that this plan would be a disaster for working families and the Iowa economy, but that didn’t stop Governor Reynolds from falling in line with her partisan special interest buddies.
Here’s what Iowans are saying about the GOP tax scam Reynolds supports:
Des Moines Register Editorial: GOP’s $1.5 trillion tax plan is not a ‘victory’ for Iowans
“The richest will end up with a break 143 times greater than the middle class…tax cuts do not pay for themselves. They do not generate enough economic activity to be self-financing. Cuts do, however, reduce the revenue collected by the government. Yes, that is the same federal government needing more — not less — money to fund everything from health care for seniors to the military to child welfare…Only 16 percent of voters think the GOP bill would reduce their own taxes, according to a recent Quinnipiac poll. And damage to those who need help is inevitable.”
QC Times: Analysis: Reports claim middle-class Iowans could see taxes increase under new law
“In Iowa over 10 years, middle-class workers — the middle 20 percent of wage earners — will on average see an overall tax increase of $40 per year under the Senate bill, according to the progressive Institute on Taxation and Economic Policy. The poorest 20 percent will see an increase of $70, and the second 20 percent an increase of $60.
.. Taxes would go up on nearly two-thirds of U.S. middle class workers — by an average of $140 per year — under the Senate bill, according to a Nov. 20 report by the nonpartisan Tax Policy Center.
Nearly a third of the poorest 20 percent also would see an increase, as would more than half of the second 20 percent of wage earners.”
Radio Iowa: ITEP analysis: richest one percent in Iowa get half of benefits in GOP tax plan
“ReShonda Young is a small business owner from Waterloo whose “Popcorn Heaven” outlets now operate in five locations. During the conference call, Young said the business tax cuts proposed by Republicans won’t lower her taxes.
“It will not help small businesses,” Young said. “In fact, the budget cuts will hurt small businesses like mine and make us less able to compete with the large corporations that take advantage of unfair loopholes.”
QC Times: House’s tax plan could affect Iowa wind projects
“MidAmerican Energy said Thursday a plan to scale back the federal wind production tax credit would remove the certainty the company has been counting on in its plans to expand wind power in Iowa.”
“By backing a tax scam that would hurt Iowa’s economy and raise taxes on working families, Governor Reynolds shows how out of touch with Iowa she really is,” said Iowa Democratic Party Spokesperson Tess Seger. “Yet again, we see her putting partisan special interests over the needs of the families and businesses of our state by standing up for a plan that raises taxes on the middle class, gives away millions to the wealthy, and adds over a trillion dollars to the deficit. And yet again, it’s crystal clear that Kim Reynolds is wrong for Iowa.”