This bill does not garner the headlines like education funding or social issues, but make no mistake, it is important to hard-working Iowans. By coupling with federal income tax laws, Iowa taxpayers could save nearly $99 million on their 2014 income taxes. This is a positive for taxpayers and the state.
Going into this legislative session, significant conversations were held regarding the challenges the legislature faced in a tight budget year. Those talks persist as the budget woes have now been realized. This is why passage of the coupling bill is noteworthy; it may be one of the few initiatives passed this session that helps Iowans see a monetary benefit when it comes to taxes.
The $99 million would go back into the pockets of hard-working Iowans to be spent how they choose. This is a win for Iowa taxpayers and a win for the state as that money is reinvested and helps grow our economy.