What tax cuts are Republican Governors supporting?

What is happening? Inflation and cash reserves are moving tax breaks to the forefront.

Why is this important? With midterms this year, let’s see what Republican Governor are talking about:

• Iowa Gov. Kim Reynolds (R) championed a measure that replaced the state’s progressive income tax with a flat tax of $3.9%
• Georgia Gov. Brian Kemp (R) signed a $1.6 billion plan that would send refunds to people who paid taxes in 2020 and 2021
• Indiana Governor Eric Holcomb(R) initially opposed and then supported a 7 year plan to reduce the state income tax. The change in opinion came after seeing healthy state revenues.
• Idaho Gov. Brad Little (R) supports a one-time rebate and that includes future reductions in income taxes 

How will this be important? The biennial legislatures will be considering similar ideas in 2023.

Route Fifty | It’s a Big Year for State Tax Cut Proposals