In an hourlong session with Business Record staffers, key legislative leaders suggested that the tax cuts they are pursuing could prompt a review of the incentives offered to developers.

“We’re willing to look at all those things,” said Senate President Jack Whitver, a Republican from Ankeny. “If you have a lower (tax) rate, maybe some of those credits aren’t necessary. That might be part of the balancing as we move along.”

But the credits would need to be reviewed individually, Whitver noted.

“Those credits are there for a reason. Some of them still work. Some of them might not be relevant anymore. They’ve been there for 20 years, and we’re not getting the results we want. So I think we should have a look — I think there are 42 or 43 tax credits in our code. We should look at all of those.”

Said House Majority Leader Chris Hagenow, a Republican from Windsor Heights: “Those credits were established for specific programs and type of development, and every year we should look at whether they continue to be successful, if they continue to meet the mission they were created for. 

“Similarly, we need to be thoughtful about new programs. Do they dovetail off existing areas of the economy in which we have an advantage?” Hagenow asked. “We need to be mindful that they are there to expand Iowa’s economy.”

“Many if not all of those credits had bipartisan support when they were created,” Hagenow added.

For more on tax cuts and incentives, check out takeaways from the Business Record’s Economic Forecast event on Page 12.