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Iowa’s $12.1 billion in tax expenditures bring calls for tax review

As they seek to finalize $118 million in cuts to state programs and agencies, a growing chorus of legislators now are calling for an examination of state tax credits and exemptions — an often invisible slice of Iowa’s finances that the Department of Revenue estimates totaled about $12.1 billion in 2010.

Legislators of both parties told The Des Moines Register they were surprised at the scope of that estimate, which is detailed in a report released in 2014 showing 373 separate tax credits, exemptions, deductions and exclusions in Iowa's tax code.

via www.desmoinesregister.com

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