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Monday, March 03, 2008

Cyclone Conservatives: Weekend Update From RPI Chairman Iverson

Excerpted from this post at Cyclone Conservatives

Floor debate in the Iowa House had an interesting turn this week, when
House Democrats admitted that without a tax increase on Iowa
businesses, they will be unable to balance the state budget this
session. Prompting the comment was an amendment put forth by House
Republicans that would have mirrored the federal economic stimulus
package by allowing an accelerated write-off for businesses for
certain assets they own, called bonus depreciation. The Democrats
defeated this amendment on a partisan vote, 53 to 47, with every
single Democrat casting a vote against the bill. This was a great
opportunity to stand up for hometown Iowa businesses, who will be hit
with a tax increase of up to $30 million.

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Mike Schramm
Andy Szal

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