DES MOINES, IOWA (February 17, 2022) — The National Federation of Independent Business (NFIB) applauds the Iowa House for passing important legislation that would lower income tax rates for small-business owners to a flat four-percent rate by 2026.
One of the top issues for NFIB small-business owners here in Iowa is our state’s burdensome tax code. Despite recent reforms, Iowa still has one of the highest tax-rates in the country. With nearly $1.8 billion in surplus, strong revenue forecasts, and a stable budget, NFIB has been urging Iowa legislators from the beginning of the session to implement policies that will continue to lower or eliminate income tax rates in Iowa.
“Income tax reform is the best way to get money back into the hands of our small business owners and their employees,” said Matt Everson, NFIB State Director in Iowa. “On behalf of the nearly 11,000 NFIB small business members in Iowa, we want to thank Speaker Pat Grassley, Majority Leader Matt Windschitl, and House Ways and Means Chairman Lee Hein for their leadership on this important issue. We look forward to the House and Senate working together in the coming weeks and sending a final income-tax package to the Governor for her signature."
You can find a link to the bill here.
For more than 75 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington DC and in all fifty state capitals. NFIB is non-profit, non-partisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.
