Branstad: Revenue Jump Good Sign for Iowa Tax Cuts
DES MOINES, Iowa (AP) — Gov. Terry Branstad says that, with full cash reserves and economic emergency funds topped off, Iowa is in good shape to consider major tax reform when the Legislature starts work in January.
Branstad said Monday the state's good financial shape is good news for taxpayers, who will reap the benefits.
But, he says, the healthy budget situation "is not a license to spend with abandon."
The governor says he'll push his plans to revise Iowa's systems of individual state income taxes, corporate state taxes and all classes of property taxes.
The state ended the fiscal year on June 30 with total revenue growth of $412 million over the previous year. The figure was $260 million more than anticipated.
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