Iowa Gov. Kim Reynolds is asking lawmakers to implement a 3.65% flat income tax rate this year and a 3.5% flat tax in 2025.
Reynolds said in her Condition of the State address Tuesday night that the state's $1.83 billion surplus from fiscal year 2023 and $900 million in reserves mean the state is taking too much from taxpayers.
" Reynolds is also asking the Legislature for $96 million to raise teacher salaries.
The money would increase starting teacher pay by 50% to $50,000 a year and set a $62,000 annual minimum salary for teachers with 12 years of experience, the governor said.
I'm allocating $10 million to a merit-based grant program that will reward teachers who have gone above and beyond to help their students succeed," Reynolds said.
"The result will be significant savings for employers of all sizes, saving more than $800 million over five years," Reynolds said.
"Over the last year, in dozens of conversations with parents, teachers, school administrators and AEA staff, it's become clear that while some of our AEAs are doing great work, others are underperforming," Reynolds said.
https://www.thecentersquare.com/iowa/article_767dd9b4-af4c-11ee-b178-577832ca809e.html
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