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Newscast 02.24.22: Bishop Nickless Calls for a Moment of Silence over Russian Attack on Ukraine; Iowa and Nebraska Gain Momentum on Tax Cut Proposals

Iowa Governor Kim Reynolds' tax cut plan
Iowa Governor Kim Reynolds' tax cut plan

Following this morning’s attack on Ukraine by Russian troops, the bishop of Sioux City’s Roman Catholic Diocese is offering up words of prayer and encouraging people throughout Siouxland to join in.

In a press release, Bishop R. Walker Nickless asked residents to hold a minute of silence and prayer at 3 p.m. today. Along with that, Nickless requested all churches and houses of worship ring bells to signal the call to prayer.

Iowa is likely to move to a 3.under a compromise between legislative Republicans and Gov. Kim Reynolds that paves the way for the passage of a massive tax cut.
House and Senate lawmakers are set to vote on the compromise today, which would send the bill to Reynolds' desk for her signature.

The bill would cut Iowa's income tax to a 3.9% flat rate for individuals by 2026. It would also exempt retirement income like 401(k)s, pensions and IRAs from state taxes and overhaul some of Iowa's corporate tax credits.

Nebraska lawmakers have given initial approval to personal and corporate income tax cuts backed by Gov. Pete Ricketts, despite reservations about who would benefit the most and the likely revenue losses for the state. Senators voted, 40-1, to advance the bill through the first of three required votes but promised to work on changes to try to ease some of the concerns.

Some lawmakers say they're particularly opposed to the corporate income tax cut, which would reduce the tax burden on large corporations that sell items and services in Nebraska but are headquartered in other states. Business say it would encourage companies to invest in Nebraska and keep the state competitive with its neighbors.

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