Iowa’s GOP is redefining counterproductive legislation.
Gov. Terry Branstad’s unabashed advocacy on behalf of corporations is now being exhibited in the Iowa Legislature, where lawmakers will soon discuss the governor’s proposal to cut corporate income-tax rates in half and slash property-tax rates for new construction.
This drastic decrease in corporate income- and property-tax levels is inexcusable in Iowa’s current budget situation. Cuts in business taxes of the size the governor is proposing would force a huge loss in revenue that would severely harm the state in the long run.
Complete article at Daily Iowan : http://bit.ly/gWnIMK