Iowa Senate passes tax cut, will benefit farmers
The Iowa Senate approved a cut in state taxes for families, small businesses, and farmers on Monday, Feb. 4. The legislation, which adjusts Iowa’s tax law in light of changes in federal tax policy, was approved by a vote of 48 to 0.
“These tax cuts will help working families and encourage growth by Iowa small businesses and farmers,” Black said. “I hope the House and Governor Branstad quickly follow the Senate’s lead. We need to settle these issues in order to prevent any snafu that could delay tax filings and tax refunds.”
Senate File 106 would, among other things, provide a nearly $20 million boost to the Iowa economy through a tax cut to farmers.
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