300 Main Street, Suite 200, Dubuque, IA 52001
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Chamber response to Gov. Branstad's Administration Statement on March Revenue Estimating Conference
Dubuque Chamber Members:
The Dubuque Chamber is your voice for business. When we see proposed legislation that makes NO sense we act immediately. The time is NOW!!
The release of the State of Iowa budget is not good news.
There will be cuts from programs that benefit Iowa’s business growth.
We must reach out to our legislators and insist that Tax Credits not be touched! By eliminating Tax Credits we are eliminating Iowa’s Economic Growth in Workforce.
Attached you will find an unacceptable proposal by Iowa Rep. Grassley. Please take the time and contact him that this is BAD Business for Iowa.
You can also contact our DBQ Delegation and let them know Dubuque (all of Iowa) cannot withstand such cuts.
Rep. Grassley put his proposal on the table (see it here). We have serious concerns with its arbitrary capping and reduction of overall tax credit funding and its elimination of refund-ability.
It will have the effect of raising taxes on many classes of taxpayers that utilize existing credits.
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Pat Grassley proposes capping Iowa tax credits
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OFFICE OF THE GOVERNOR
Governor Terry E. Branstad « Lt. Governor Kim Reynolds
FOR IMMEDIATE RELEASE: Tuesday, March 14, 2017
Contact: Governor’s Office, 515-281-5211
Branstad Administration Releases Statement on March Revenue Estimating Conference
(DES MOINES) – Today, Gov. Terry Branstad and Lt. Gov. Kim Reynolds’ Communications Director Ben Hammes issued the following statement in regards to the March Revenue Estimating Conference:
“Our Iowa economy is growing. But the challenging farm economy, with commodity prices below the cost of production for far too long, has hit our state revenues. Iowa is prepared. The State of Iowa has hundreds of millions in the cash reserve account – the state’s savings account. Gov. Branstad and Lt. Gov. Reynolds propose using our savings in the cash reserves, rather than additional budget cuts, to meet our current fiscal year needs. The State has already made cuts to the current fiscal year budgets but with just over three months remaining in the current fiscal year, additional cuts are not feasible. The Governor and Lt. Governor are committed to reimbursing the cash reserve account in the budgets to be passed this legislative session.”
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