“The projections released today by the REC are very encouraging and again reaffirm why we worked hard this legislative session to pass the largest bipartisan tax reform bill in the history of our state.
“Our bold tax cuts were necessary as we continue to over-collect Iowan’s hard-earned money.
But with the new tax law of a flat and fair 3.9% individual tax rate by 2026, and eliminating the state income tax on retirements, among other tax reform, Iowans will see more money in their pockets and not in the hands of the government.
“These new projections also reaffirm the fact that we have steady revenue entering our state, and that revenue will ensure that our key priority areas like education, public safety and mental health continue to be adequately funded.”
This story will be updated as new information become available.