This week, we have had many meetings, both full committee and subcommittees, working on discussing and passing along bills. The big bill of the week was the Governor’s Biofuel bill, HF 2128. Last night, 2/2/22, the bill passed out of the House with bipartisan support 81-10. Now, it moves to the Senate, where hopefully they pass it quickly as well. This bill has been a long time coming and I am very happy to see the progress we’ve made. This is a huge win not just for Iowans, but also for Iowa agriculture. We are the example to the rest of the country on the importance of using cleaner, renewable fuel source. This bill increases Iowans’ access to E-15 by ensuring all gas stations that are compatible offer E-15 as an option to consumers. If a station’s equipment is not compatible, and upgrading their infrastructure would come at a great cost to the business, they can apply for a waiver from this requirement. This change was made from last year’s bill to ensure the bill does not put small fuel retailers out of business.
Next up on the agenda is the Governor’s tax bill. This bill, HSB 626, has been introduced, and passed through subcommittee. HSB 626 is focused on the individual, outlining a flat tax rate that will go into effect the tax year of 2026. Another provision in the bill gets rid of income tax on retirees in the state. This is similar to the Governor’s tax bill, but our version does not include a corporate tax cut. I could support a corporate tax cut, but I think we need to have a discussion on corporate tax credits also. Since it has passed the subcommittee, this bill is ready to be debated by the entire Ways and Means committee. I will be floor managing this bill. I think with the tax dollars surplus, that we can lower individual income taxes. The bill also eliminates taxes on retirement plans. I also want to give people a reason to want to retire, a reason to stay in Iowa. This will make Iowa a more attractive state for retires.
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