Iowa takes from working families and gives to rich corporations

Here is a highlight from the opening statement by Sen. Joe Bolkcom, chair of the Senate Ways and Means Committee, to the November 16 meeting of the Legislative Tax Expenditure Committee.

“This review of the hundreds of millions of dollars Iowa spends in state tax credits is long overdue. We need transparency, accountability, and we need to make sure these programs produce jobs, jobs, jobs.

“Here’s the question that I want to hear answered today. ‘Why does an Iowan making $17,500 a year pay more in state income taxes than some of the largest, most profitable corporations in the world, corporations which are making money in Iowa?’

“In other words, why is Iowa taking from the working poor and giving to rich corporations?”

(The full agenda and additional documents)