With Republican control of government at both the national and state level, there is a grave danger of so-called “tax reform” that cuts taxes for the wealthiest individuals and corporations, blows an even bigger hole in the national debt, and deprives Iowans of even more vital services.
At the national level, we have just a few weeks to stop the proposed Republican tax cuts. With the national debt already more than $20 trillion – that’s $20,000,000,000,000, or more than $60,000 per American – we simply cannot afford to give up the revenue that would be lost if Republicans cut taxes for wealthy individuals and corporations.
If Congress drives up the national debt, it would result in less economic growth, less money for disaster relief and disaster preparedness, and even less assistance for Iowans for education, health care, and other vital services.
Many Republicans in the U.S. House and U.S. Senate have prided themselves on being “fiscal conservatives.” Now is the time for them to stand up and show they mean it by voting “no” on the reckless tax cut proposal.
Ask our members of Congress to “oppose any tax cut that would add to the national debt.” Here are the numbers to call:
- Washington, D.C., offices:
- Iowa offices:
If you are looking for more detail about the proposed tax cuts, here is an article from the Center on Budget and Policy Priorities: www.cbpp.org/research/federal-
As the article discusses, the four key proposed tax cuts that would disproportionately benefit the wealthiest individuals and corporations are:
- A new “special” 25 percent tax rate on “pass-through” income.
- Eliminating the estate tax on estates over $5.5 million (individual), $11 million (couple).
- Reducing the top corporate tax rate from 35 percent to 20 percent.
- Reducing the top individual tax rate from 39.6 percent to 35 percent.
In addition to stopping the proposed tax cuts, I also believe Congress should be looking for efficiency improvements and spending cuts, especially in less-essential areas of government, to further reduce the deficit. If you have suggestions, send me an e-mail, and I will prepare a list of ideas to share.
Please call Congress today for fiscal responsibility and to oppose tax cuts that add to the national debt.
Dangers of “Tax Reform” in Iowa
Advocacy is urgently needed at the national level, but we also need it at the state level. On Saturday night, after the Iowa-Minnesota football game, I heard a radio advertisement by the Koch Brothers-funded organization known as “Americans for Prosperity” urging state tax “reform” right here in Iowa.
Under the Reynolds Administration, the Iowa budget is already a mess, with large cuts to public safety, education, health care, and natural resources. Earlier this month, expected revenue for Fiscal Year 2018 was reduced by another $133 million.
We simply cannot afford more tax giveaways to wealthy individuals and corporations. Please speak up with legislators of both parties to make sure that any tax “reform” is fair and does not deprive the state of much-needed revenue.
- Visit Northeast Iowa Community College, Peosta, Wednesday, November 1, 10 a.m. to 2 p.m. – On Wednesday, I will be visiting Northeast Iowa Community College in Peosta to learn more about career and technical education opportunities for Iowans through our community colleges and the challenges our students are facing. Earlier this year, I visited Kirkwood in Cedar Rapids and Western Iowa Tech in Sioux City.
- Hoover Presidential Foundation Banquet, Coralville, Wednesday, November 1, 7:30 p.m. – I will be attending this banquet to accept the Hoover Uncommon Public Service Award at the Coralville Marriott.
- City Elections, Tuesday, November 7 – This is reminder to vote on or before Tuesday, November 7, in your city elections.
- Veteran’s Day Service, Saturday, November 11 – Please join me at 10 a.m. onSaturday, November 11, at the Veteran’s Memorial Coliseum on Mays Island, 50 2nd Ave. Bridge, in downtown Cedar Rapids, to honor our veterans.
- Tom Vilsack Lecture on Agriculture and Climate Change, Thursday, November 16, 7:00 p.m. – I will be attending this lecture by former Iowa Governor and former U.S. Secretary of Agriculture Tom Vilsack at Iowa State University’s Memorial Union in Ames. For more details, or to invite your friends, visit www.facebook.com/events/
If you would like more information about climate change, please send me an e-mail, and I will add you to my monthly climate advocacy update.
I hope this information is helpful. As always, please let me know if you have any questions or suggestions.
Senator Rob Hogg