Lawmakers close to agreement over income tax proposal - KWWL - Eastern Iowa Breaking News, Weather, Closings

Lawmakers close to agreement over income tax proposal

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DES MOINES (KWWL) -- Lawmakers are near agreement on a overhaul of our state's income tax system that would include a $55 million tax cut over the next two years.

The cut was added to an earlier plan to end the ability to deduct federal tax payments when calculating state tax liability.

The roughtly $600-million generated by the plan would be used to reduce tax rates.

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