Nebraska and Iowa Lawmakers Will Work on Tax Relief in the 2020 Legislative Sessions
The Iowa Legislature begins its work next Monday, January 13th.
Leaders from both political parties say they believe this 2020 election-year session will feature a multipronged discussion of state tax policies encompassing income, sales, property and business taxes — but they would not be surprised if it takes most of the scheduled 100 days for a consensus to develop if one does at all.
GOP Gov. Kim Reynolds and Republicans who hold majorities in the Iowa Senate and in the Iowa House say they want to build on tax-relief efforts they started in 2018 in ways that will ease Iowans’ tax burden, make Iowa more competitive with other states and simplify areas of the tax code at a time the state budget has a surplus.
The Nebraska legislative session begins this Wednesday. A committee of Nebraska lawmakers is planning an 11th-hour, full-court press to craft a new property tax relief bill prior to the start of the session.
The Legislature’s Revenue Committee, which oversees state tax policy, plans to meet today and tomorrow in hopes of finalizing the details of a proposal in time for the Wednesday start of the 2020 session of the Nebraska Legislature.
In between the two closed-door meetings, the eight senators on the committee plan to have lunch with Gov. Pete Ricketts in pursuit of his support.
Ricketts has said it’s imperative that lawmakers do something to lower property taxes in the 2020 session, given that the State Economic Forecasting Board has projected a healthy surplus in tax revenue.