Iowa's financial outlook is bright, according to the state's nonpartisan Revenue Estimating Committee. The continued rise in state revenues shows that our response to the national recession is working.
The rebounding economy means the state budget can again be balanced without raising taxes. That puts the Senate's focus squarely on growing Iowa's middle class. Increasing the financial security of middle-class Iowans-and helping more Iowans join the middle class-is the driving force behind our efforts to keep and create good jobs.
Iowa is on track to have the most comprehensive economic development approach for a state our size. It includes smart, targeted investments in traditional economic development efforts, support for the community revitalization of our Main Streets, and an ambitious education component to tackle our state's workforce shortage.
State Senator Steve Sodders
Here's a list of legislation that has passed the Senate or is expected to be voted on soon:
An employee health insurance tax credit for small businesses (SF 412)
Expanded historic tax credits and Main Street revitalization dollars (SSB 1240)
Directing state purchases to Iowa businesses when possible (SF 170)
Efforts to reduce Iowa's shortage of skilled workers (SF 291)
A cut in commercial property taxes (SF 295)
Increased investment in various economic development incentives and tax credits (SSB 1246).
Iowans have said that job creation and business expansion are important. In the Senate, we're listening, responding-and working to bring the Iowa House and Governor Branstad along.