KWWL.com - News & Weather for Waterloo, Dubuque, Cedar Rapids & Iowa City, Iowa | Iowa House speaker expect tax credit limits
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Associated Press - December 4, 2009 12:54 PM ET
JOHNSTON, Iowa (AP) - House Speaker Pat Murphy says the Legislature will likely limit the amount of state money spent on tax credit programs designed to create new jobs to Iowa.
Murphy says the need to cut the state budget coupled with a desire for more transparency in administering the credits will probably prompt lawmakers to consider changes to Iowa's various tax credits. His comments follow revelations earlier in the fall that a tax credit for moviemakers was poorly managed and at times violated state rules.
Murphy says budget problems also increase chances legislators will close 1 of the state's four mental health institutions, located in Clarinda, Cherokee, Independence and Mount Pleasant.
Murphy spoke Friday during a taping of Iowa Public Television's "Iowa Press" program.
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