As we’re in the last days of the 2009 legislative session, Democrats in the Iowa Senate continued their tax and spend practices yesterday by approving another bonding plan and voting against relieving Iowans’ tax burden.
The first bill that passed yesterday allows the University of Iowa to bond for $100 million in an effort to rebuild art museum facilities that were damaged by last summer’s floods. The debt incurred for this bonding plan would more than double at a total of $216.9 million over it’s lifespan, ending in 2040.
Democrats also voted against an amendment that would lessen the tax burden many Iowans face by allowing coupling to be an option in filing state taxes. Iowa tax code is updated yearly based upon the federal tax code. Allowing Iowans to couple their taxes lessens their tax burden.
These out of control spending practices will burden our children and grandchildren and creates a ripple effect of problems for our future.
Most recently, news on the federal deductibility issue is that Democrats have come together to work out a new plan, but don’t be fooled by the spin on this issue. Eliminating federal deductibility is still a tax on a tax for most Iowans. We're expecting debate on the issue next week.
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