ABI supports personal income tax cut
The Iowa Association of Business and Industry (ABI) said that cutting Iowans’ personal income taxes by 20 percent would “help jump-start economic activity by job creators.” The association, whose corporate members employ more than 300,000 Iowa residents, supports passage of House File 194, which the Iowa House is scheduled to consider today. ABI estimates that between 60 and 80 percent of Iowa businesses are organized as sole proprietorships, partnerships, limited liability companies and S corporations — structures in which the owners are taxed at the individual level.
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