With a reported $289 million surplus for fiscal year 2019 already in the bank, Republican Iowa Gov. Kim Richards is weighing the prospect of more tax cuts.
Speaking at a recent Iowa Ideas symposium, Reynolds said she is assessing what she considers to be in the best overall interest of the state before making her final determination.
“I’m always going to look at ways that we can help Iowans and businesses keep more of their hard-earned money, so we’ll have to see,” she told The Gazette.
Led by Reynolds and a Republican legislature, the state recently enacted the largest state income tax cut in its state history, which is slated to officially take effect on Jan. 1. Reynolds said her administration is looking at potential short and long-term cut formulas as she moves toward making her ultimate decision.
“We’re running runs all of the time,” she told The Gazette. “We want to make sure that we’re doing it in a fiscally responsible manner and we want to make sure that we can continue to honor the priorities, which is education and workforce and an integrated and coordinated health care system. We just have to see how that fits into the overall picture.”
Alerts Sign-up