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Friday, April 03, 2009

Iowa Independent: Bell will oppose federal deductibility bill

Excerpted from this post at Iowa Independent

Rep. Paul Bell, D-Newton, has joined four of his fellow House
Democrats in publically stating he will oppose a bill to eliminate
federal deductibility. House File 807, which would end Iowans' ability
to subtract federal taxes from their income when figuring their state
taxes, was intended to make a fairer tax structure for Iowa and lower
the tax brackets to make the state more attractive to businesses and
families, Bell said. "Unfortunately, it is nearly impossible to adjust
the tax brackets without adversely affecting many of the people of
Iowa," he said. "I do not feel enough time has been devoted to
studying the ramifications of the bill. Thus, I will not be supporting
HF 807."

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