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Republicans Hope to Implement Tax Credit

Posted: Wednesday, January 30th, 2013 at 6:26 am
Author: KNIA/KRLS News-Aaron Gernes

Iowa Senate Republicans have introduced a measure that would create a $375 tax credit for taxes filed next year. Senator Amy Sinclair says the money would come from an over-payment of taxes into the state government that in an $800 million surplus. Sinclair says the tax credit would be the best way to directly impact Iowan’s pocketbooks. She explains she’d rather give the taxpayers their money back than use it to spend at the state level.

During a recent poll at kniakrls.com, 48% of respondents said they wanted the legislature to return the surplus to them. 38% said to spend it on infrastructure, while 14% suggested using it as a rainy day fund.