Government : GOP TAX PLAN IS SETBACK FOR MOST IOWANS

Gov. Reynolds signed into law a tax plan (HF 2317) this week that will further line the pockets of the ultra-rich, while not doing enough for working Iowans.

I voted against the plan because I believe in a fair tax system-not increased tax giveaways to corporations, millionaires and special interests. The tax plan rewards the extremely wealthy-not working Iowans and small businesses. Under the plan:

* About a one-third of Iowans won't gain a single penny in tax relief.

* Millionaires get an average tax cut of $67,000 every year.

* $265 million will go to the largest corporations.

I've consistently supported tax cuts that provided significant savings for working families while maintaining a fair tax code. That's why I supported efforts this year to:

* Expand tax relief for working families. Many working families are falling behind on their utilities, child care, car payments and other needs. Our plan would have created greater incentives for Iowans to work and help solve the Reynolds Workforce Crisis by doubling the Earned Income Tax Credit. This tax credit is proven to move families out of poverty and provide economic security.

* Make child care more affordable and available for Iowa families by expanding the existing credit for families with child care expenses. According to the Iowa Women's Foundation, Iowa is short 350,000 child care spots. Our state has lost 33% of its child care businesses over the last five years. And the costs are steep; Iowans spend 15% of their income for child care-double what U.S. Department of Health and Human Services says a family should reasonably pay. Addressing the child care shortage is critical to getting more Iowans back to work.

* Provide an immediate tax cut to every Iowan making $250,000 or less, while still having the resources to invest in stronger communities, teacher pay and better schools, public safety and public health.

* Ensure Iowa's family farming future by making it possible for more beginning farmers to rent agricultural land and providing tax benefits to retiring farmers.

The Republican tax plan that was signed into law is not a solution to the workforce crisis and won't help Iowans cover rising costs caused by corporate greed.

Under the Republican plan, the very companies that are raising prices, posting record-setting profits and driving inflation are getting rewarded for that behavior.

The ultra-rich will get a tax cut that is more than 100 times greater than that of an average Iowa family. According to the Iowa Department of Revenue, the average Iowa taxpayer will receive a net benefit of $593 or about $11.40 per week from the Republican tax plan. The 3,000 Iowans who earn more than $1 million per year will receive an average tax cut of $66,879-or about $1,286 dollars per week.

I have voted for tax cuts that rewarded work - not the super-wealthy - and I look forward to supporting fair tax plans in the future.