Iowa Republicans consider revenue refund for taxpayers - KSFY News - Sioux Falls, SD News, Weather, Sports

Iowa Republicans consider revenue refund for taxpayers

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House Republicans are proposing to divert money into a fund that would be returned to Iowa taxpayers.
Most Republicans signed onto a measure assigned Wednesday to the Ways and Means Committee. The proposal would increase government allocations to a so-called Taxpayer Trust Fund.
State law now requires 10 percent of a budget surplus to go toward cash reserve and emergency funds.
The new proposal would direct any additional money into the trust fund, which could be credited back to taxpayers.
House Speaker Kraig Paulsen says the measure shows that Republicans want any "overpayment of tax dollars" to be returned to residents.
The measure could pass the House, where Republicans hold a majority, but likely would face problems in the Senate, controlled by Democrats.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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