DES MOINES - The Republican Party of Iowa released the following statement in response to the Common Sense Institute's (CSI) Study regarding the current and future economy in Iowa. The study shows that over the next 10 years, SF 2442 will result in:

  • $1.85 billion in tax savings for income-tax payers
  • A $3 billion increase in after-tax income across the entire economy
  • $1.72 billion in GDP growth
  • Approximately 6,800 new jobs created in 2025
  • In three forecasted scenarios, including two recessions of varying severity, CSI found Iowa’s recent tax reductions are sustainable over the long term
  • The typical household will see a reduction in their effective tax rate from 4.71% to 3.8% for 2025 and a reduction from 3.9% to 3.8% in future years

"Iowa is proof that leadership matters. Governor Kim Reynolds, along with the Republican State Senate and State House, worked hard to craft and pass tax cuts that actually work. Despite President Biden dismantling the national economy, Iowa is yet again leading the way with solutions that help instead of hurt the people of Iowa," said Luke Wolff, Iowa GOP spokesman. "The CSI study shows Iowa is setting itself up for success because of our policies that allow Iowans to keep more of their hard-earned money."

The full report can be found here.


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