Democratic candidate for governor Jack Hatch says he has a plan to cut income taxes for middle class residents.
The state senator from Des Moines unveiled his proposal Wednesday. Among his goals are modifying tax rates and ending the policy that allows taxpayers to deduct federal income taxes on their state tax returns.
Hatch also wants to increase tax credits offered to some with children or dependents, as well as exempt some wages from taxation in two-income households.
An analysis by the state Department of Revenue shows the plan would reduce taxes for those with incomes below $200,000, but would increase the tax burden for those with higher incomes. It would cost the state $415 million in lost revenue in the 2014-2015 fiscal year and $296 million the following year.
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Monday, July 28 2014 2:17 PM EDT2014-07-28 18:17:27 GMT
Israel and Hamas have lowered the pace of the fighting in the three-week-old Gaza war as international efforts intensify to end the conflict that has already killed 1,030 Palestinians and 43 Israeli soldiers.More >>
Israeli Prime Minister Benjamin Netanyahu said Monday that Israel must be ready for a "prolonged" military operation in the Gaza Strip and will "act aggressively and responsibly" until the mission is completed.More >>
Monday, July 28 2014 1:20 PM EDT2014-07-28 17:20:23 GMT
Red Lobster wants to be seen as a purveyor of quality seafood, so it's getting rid of some of its promotional discounts and plating dishes higher like fancier restaurants.More >>
Red Lobster wants to be seen as a purveyor of quality seafood, so it's getting rid of some of its promotional discounts and stacking the food higher on plates, as is the style at fancier restaurants.More >>
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