Statewide Iowa – An analysis from a think tank called the Common Sense Institute concludes the latest round of state income tax cuts may create up to 68-hundred new jobs in Iowa next year. Ben Murrey, the group’s director of research, says when you pull one policy lever, there are impacts in other areas of the economy.
And he says business owners who’re paying less in personal income taxes may choose to hire more employees.
Murrey’s report concludes Iowans will pay one-point-85 BILLION dollars less in taxes over the next decade. Next year, an Iowa household with an annual income of 75-thousand dollars will get a four-hundred-10 dollar ($410) state income tax cut.
