The Iowa Senate passed SF 619, a broad agreement to reduce the tax burden in Iowa. This bill passed with bi-partisan support, 29-15. It now goes to the House of Representatives for their consideration. The bill is expected to save taxpayers over $1 billion over the next 8 years. 

“Today, the Iowa Senate made Iowa more competitive. Reducing the top income tax rate to 6.5% means Iowa families will keep more of the money they earn. Lower income tax rates make this state more attractive to small business and people looking for a new home,” said Senate Majority Leader Jack Whitver, R – Ankeny. “Phasing out the inheritance tax ends the unjust practice of taxing the dead. Eliminating the mental health levy finally provides actual property tax relief for Iowans. Iowans asked for tax relief and the Iowa Senate has answered those calls.” 

“Senate Republicans promised bold tax reform when the session started in January and this bill delivered,” said Senator Dan Dawson, R – Council Bluffs, chair of the Ways and Means Committee. “This bill includes eliminating the tax triggers, eliminating the inheritance tax, provides tax relief for small business, and provides tax cuts for Iowa families. Senate File 619 is the tax bill Iowans deserve and I am proud to have it pass the Iowa Senate.”