The Cato Institute has released their 2022 Fiscal Policy Report Card on America’s Governors.  Iowa’s Kim Reynolds was not only one of just five governors who received an A grade from Cato, but this data driven report calculated her score as the highest in the nation!  Since 2008, this report has graded the fiscal policies of our nation’s governors from a limited-government perspective using seven variables. 

The full report from Cato is available here: https://itrfoundation.org/reynolds-gets-an-a/

On the other hand, the Des Moines Register Editorial Board sees things exactly the opposite. In their endorsement of Democrat Deidre DeJear, the Register admits that they prefer a Governor who will advocate for a much larger, more expansive government that spends more of our tax dollars.

Iowa Senate Majority Leader Jack Whitver is our guest on this episode of ITR Live.  As Majority Leader, Whitver leads the Senate Republican caucus, not just through the legislative session, but during campaign season as well. Senator Whitver discusses the importance of tax policy to the future of our state and why it remains a top issue for the Senate Republican Caucus. 

With just four weeks left until Election Day, Senator Whitver previews the upcoming Iowa Senate elections and what tax issues could be in play when the legislature comes back in January 2023.

The most recent Iowans for Tax Relief Foundation Poll, conducted by Cygnal, shows Governor Kim Reynolds is growing more popular while President Joe Biden remains unpopular. Iowans support a wide range of conservative candidates and policy measures, including spending limits on local governments to control property taxes.  

The ITR Foundation Poll shows tremendous support for conservative candidates up and down the ballot. The Generic Ballot tested at +17 for the GOP, indicating the strongest political environment for Republicans than the state has seen for decades.  

The previous ITR Foundation poll from July was fielded shortly after the  Supreme Court’s decision in Dobbs. Since that poll, the electorate in Iowa has shifted to the right and are prepared to emphatically re-elect  conservative leadership. Iowa voters are clearly focused on the fallout  from the Biden economy, with inflation and the cost of living being the top issue deciding voter preference.

Get the complete ITR Foundation Poll results here: https://itrfoundation.org/wp-content/uploads/2022/10/ITR-Foundation-Poll-October-2022.pdf

Iowa is a wonderful place to live. Driving across the state during the beautiful fall season is a reminder that we are blessed to live in this state.  Only slightly less inspiring than the harvest season in Iowa is the recently reported strength of our state's budget and strong fiscal management.  

ITR Foundation has the details of the final budget numbers for the past fiscal year and a look at the foundation that has been built for the success of our recent tax cuts.  This is the second year in a row Iowa experienced a billion dollar surplus, as the state ended fiscal year 2021 with a $1.24 billion surplus.  While income tax cuts have been phasing in since 2018, these figures  provide even more confidence for the coming rounds of rate cuts and the  exemption of retirement income scheduled for 2023.

Read more here:  https://itrfoundation.org/iowa-fy2022-exceeds-expectations-with-large-surplus/

Why can't our federal government work more like Iowa?

ITR Live gets together to talk about Governor Reynolds joining other governors in a lawsuit challenging the Biden Administration's student loan forgiven plan.  The conversation then turns to our state's growing budget surplus, and how that stands in stark contrast to the exploding federal debt.  John has further thoughts on how our massive federal debt might impact our nation's future.  

The City of Des Moines plans to give 100% of the revenue from a TIF (Tax Increment Financing) district to property developers.  The price tag for this development could reach $1 billion. Is that fair? ITR Foundation President is a student of TIF and has answers to some very basic questions: Is there any evidence to show that this will boost overall economic activity, and are these incentives really necessary?  Will individual taxpayers benefit in any way?

ITR Policy Director Sarah Curry is in studio to talk about how NOT to do property tax relief. Nebraska has a convoluted system of income tax credits meant to offset local property taxes.  Amazingly, the majority of Nebraskans don't even claim the credit.  When it comes to tax policy, simpler is better.  As Iowa looks at property tax relief, what lessons can we learn from our neighbors to the West?

ITR Live is back with amazing stories from their recent tour.  An action packed episode that is sure to entertain with crazy Uber rides, one-of-a-kind BBQ and the thrilling, action-packed, heart-pounding agenda of a state think tank policy conference.  

The gang also talks about recent headlines focused on an upcoming round of real estate assessments for properties in Polk County. The Polk County assessor estimates that residential assessments will increase by 22% next year. If you aren't enthused about the corresponding increase in your property tax bill, who is to blame? What can you do about it? What can the legislature do about it?

ITR Foundation - Combating Runaway Property Taxes: https://itrfoundation.org/combating-runaway-property-taxes/

ITR Watchdog - Homeowners Set Up for Higher Property Taxes: https://taxrelief.org/homeowners-set-up-for-higher-property-taxes/

Chris got a new microphone and talks about the event where he got to meet all 11 of our listeners. Chris Ingstad and Sarah Curry join the podcast to talk about the state's revenue outlook and continue the conversation about Iowa's overall economic outlook.

Sarah also provides a preview of her research on the history of Iowa's property tax system (Spoiler alert: It's always been frustrating).  Did you know that Iowa once had a property tax system which involved the use of "Tax Ferrets" whose job it was to investigate individual Iowans to ensure compliance?

You are read ITR Foundation's report on August revenue here: https://itrfoundation.org/state-revenue-in-august-paints-a-positive-picture/

Governor Kim Reynolds and Iowa’s legislature have delivered pro-growth tax reform by balancing restrained spending growth with income tax cuts. Years of prudent budgeting enabled the passage of historic tax reform in 2022, which will create a flat 3.9 percent income tax rate by 2026.

But why is the flat tax a good thing?  What benefit does it have for Iowa taxpayers?  Jared Walczak at the Tax Foundation recently released an article talking about the "Flat Tax Revolution" across the country.  Read more here: https://taxfoundation.org/flat-tax-state-income-tax-reform/

John also wants everyone to know that this Saturday is Constitution Day. Why is the Constitution important, and why should we continue to study it?  Ronald Reagan touched on the answer to that question in his farewell address:

"An informed patriotism is what we want. And are we doing a good enough job teaching our children what America is and what she represents in the long history of the world?...We've got to do a better job of getting across that America is freedom -- freedom of speech, freedom of religion, freedom of enterprise.  And freedom is special and rare."

ITR Live is back! Chris, Chris and John return from their long, unexplained hiatus to discuss two new articles.  After President Biden's inflamatory speech last week, Pat Buchanan claims that "Liberal Elites Detest Middle America" and brings receipts. John also takes a few moments to sing the praises of Iowa's own "quiet conservative," Senate Majority Leader Jack Whitver.  

The Pat Buchanan article is here:  https://buchanan.org/blog/how-liberal-elites-detest-middle-america-159617

Senator Jack Whitver: Iowa's Quiet Conservative:  https://www.thecentersquare.com/iowa/op-ed-sen-jack-whitver-iowa-s-quiet-conservative/article_0b3e653e-2dfb-11ed-a6d9-73124b1d35d6.html