The real driver of high taxes is high government spending. Lasting tax relief cannot be achieved by protecting government budgets or hoping for economic growth alone—it requires policymakers to control spending. Economic growth matters, but it is not a substitute for fiscal discipline. When government spending grows faster than the economy, taxpayers face increasing pressure and higher taxes that ...
Iowa's pro-growth tax reforms are delivering results. Iowa climbed from 30th to 25th in the Rich States, Poor States rankings after enacting a 3.8% flat income tax, lowering corporate taxes, and implementing other taxpayer-friendly reforms that have strengthened the state's economy and competitiveness. The work isn't finished. While Iowa has made historic progress, other states are continuing to c...
Nearly three-quarters of Iowa voters (73.8%) support an amendment to Iowa’s constitution requiring a supermajority vote to raise taxes. Seventy-one percent of voters support this constitutional safeguard, with only 12% opposed. Support is strong across party lines, including 75% of Independents. The amendment will be on the ballot this fall. In the governor's race, State Auditor Rob Sand leads Zac...
The national debt has grown from roughly $3 trillion when Ross Perot warned about it in 1992 to more than $39 trillion today, making it one of the largest long-term challenges facing the United States. Decades of deficit spending have pushed debt levels to record highs, and the true burden looks even worse when measured against federal revenues rather than the nation's total economic output. Risin...
For years, Iowa property taxpayers have watched their tax bills climb higher while relief remained elusive. Recently though, Iowa lawmakers and Governor Kim Reynolds changed that trajectory with one of the most significant property tax reform bills in state history. The new law, SF 2472, puts taxpayers first, which is a simple but important accomplishment. Previous reforms largely focused on asses...
A new Fiscal Resilience Index ranked Iowa 8th nationally, reflecting the state’s strong fiscal position and ability to withstand potential disruptions in federal funding. The study warns that states have become increasingly dependent on federal dollars, leaving them vulnerable to Washington’s budget instability, policy changes, and growing national debt. Iowa’s combination of spending restraint, s...
Colorado's Initiative 195 would replace the state's 4.4% flat income tax with a graduated income tax and significantly increase the amount of revenue the state can retain and spend. The proposal represents one of the most significant challenges to Colorado's Taxpayer Bill of Rights (TABOR), a constitutional limit on taxes and spending that has returned more than $12 billion to taxpayers since 1992...
States are increasingly divided between two fiscal philosophies: one focused on higher spending supported by higher taxes, and another centered on spending restraint, tax competitiveness, and economic growth. High-tax states such as Illinois and Minnesota continue to face budget pressures and are pursuing new taxes and revenue sources, while states like Iowa and Arkansas are using spending discipl...
States are moving in opposite directions on income taxes. Some states, including Washington, Hawaii, Maine, California, and potentially Colorado, are pursuing wealth taxes or higher rates on top earners, while others are reducing or eliminating income taxes. Tax-cutting states are emphasizing competitiveness and growth. South Carolina, Arkansas, West Virginia, Georgia, Indiana, Kentucky, and Utah ...