Reynolds tax plan to be unveiled next week - KWWL - Eastern Iowa Breaking News, Weather, Closings

Reynolds tax plan to be unveiled next week

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Iowa Governor, Kim Reynolds, says her tax plan is coming out next week. The Governor says she still wants a tax cut for Iowans, despite the possibility of a 37-million dollar deficit for the state looming by June. She wants tax reform for middle class Iowans this year, and reform of Iowa corporate taxes next year.

The Governor and Lt. Governor, Adam Gregg, are visiting Iowa communities to tout their new 'Unleashing Opportunity' tour. The pair paid a visit to the Cedar Falls HyVee store late Friday afternoon,

In an interview with KWWL, the Governor defended tax credits to lure companies to Iowa. Democratic contenders, including Nate Boulton and Fred Hubbell, have strongly criticized what they view as giveaways which have put the state in financial peril.

But Reynolds points out they are talking about tax credits. “The fact of the matter is not one dime has gone to them yet. Those companies have to invest a certain amount of capital. They have to agree to hire so many people, and they have to agree to pay a certain wage. This is about economic growth and and providing opportunities.”

She said her interest is in growing Iowa's economy. She believes the tax cut passed by Congress will help virtually every Iowan.

Iowa Senate Republicans have proposed 52-million dollars in spending cuts, some 17-million higher than what she proposed. The Senate plan could close 30 Iowa courthouses.

The Governor says mistakes were made in the medicaid privatization roll out. She said Iowa's was not prepared to handle it at the time.

She said there will be no changes this year in IPERS, the state's largest pension plan.

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