GOP tax cut plan unveiled

posted by 1430 KASI -

A Republican tax cut plan got its first public view Wednesday in the Iowa Senate. It happened in the Ways and Means Committee, where Chairman Randy Feenstra gave members a look at the framework for the legislation.  Republican leaders say the plan would cut state income taxes by $2.7 billion over six years, giving Iowans an average tax break of $243. The GOP tax cut would reduce state revenue by about $100 million in 2019 when it takes effect.  The plan helps to pay for the cut by requiring that anyone buying goods or services on the internet must pay state sales tax even if the merchant didn't charge it. Leaders hope they can finish the budget this week, pass the tax cut Saturday, and be done for the year.

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