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Tuesday, July 14, 2009

Herd on the Hill: Democrats $56 million tax hike is politics as usual

Excerpted from this post at Herd on the Hill

The Democrats eliminated major tax deductions and exemptions for Iowa
flood and tornado victims in the 2009 legislative session. They also
did away with the teachers tax deduction, college tuition assistance
tax deduction, and the business depreciation tax deduction. These
deductions put over $56 million back into the State General Fund. The
elimination of these deductions were never communicated to Iowa
citizens or their accountants. The Democrats eliminated these
deductions that have been available for years. The Democrats made the
tax increases retroactive to the 2008 tax filings that were due April
15th. Iowans had no idea this tax increase was going to occur when
they filed their 2008 return. Now the Department of Revenue has
thousands of wrong tax returns and they are demanding payback for this
tax money.

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Mike Schramm
Andy Szal

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