Senate Journal: Page 33: Tuesday, January 9, 1996

         Iowans work hard all their lives to leave a family farm, business,
    or other assets to their children. But for too many Iowans, that dream
    is eroded by a state inheritance tax. We should eliminate the
    inheritance tax among family members to protect family farms and
    businesses and to keep more of our citizens here in their retirement
    years.

         We can help small business by giving them the same benefits our tax
    structure offers to larger corporations. And, all Iowans would be helped
    by fully indexing the state income tax rates.

         We also need to reform our property tax system. The current system
    is hopelessly complicated and archaic. There are 8,000 different
    jurisdictions that can levy property taxes and there are numerous
    credits, many of which arent fully funded. Over the last 13 years, we
    have spent $900 million in property tax relief, yet few Iowans have seen
    their property taxes go down. We need to make it fairer, simpler, and
    less of a burden. It is time to start fundamentally changing it with a
    top-to-bottom review as we prepare for comprehensive reform next year.

         To help control both spending and taxes, we should adopt the
    Taxpayers Rights Amendment to the Iowa Constitution. The growth of
    government should be limited to the rate of inflation and increases in
    population unless it is approved by a vote of the people.

         As a state, we have learned some difficult lessons. In the past, we
    became complacent and lost our competitive edge. We will not let that
    happen again.

         We also have a responsibility to see to it that all Iowa
    communities have the opportunity to share in our economic success. The
    New Jobs and Income Program, adopted just two years ago, has generated
    $1.6 billion in capital investment and created hundreds of quality jobs.
    We should make this tool available to smaller projects in rural
    communities.

         And let us never forget our economic backbone -- agriculture. We
    need to take full advantage of new opportunities which lie in the area
    of value-added agriculture. The list of products made from our
    agricultural commodities grows longer each year. Ethanol processing now
    employs 12,000 Iowans and is responsible for 11% of net farm income. The
    Asian market is hungry for our food products, and we are preparing to
    intensify our promotion of Iowa Quality Meats.

         We must improve our farm cooperative laws and allow farmers to have
    greater ownership and involvement in the value-added processing
    industry. As we help our livestock producers meet new challenges, we
    must also recognize the need to protect our rural quality of life.

         Education and economic development. Thats what brought us success
    and will make it last.

         As we continue to grow and prosper, we must never neglect the
    quality of life we have in this state. Our state is only as good as its
    families and communities.

Iowa General Assembly

Index: Senate Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? sjourn@legis.iowa.gov.

Last update: Fri Jan 12 20:45:07 CST 1996
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