'Surplus' should be used to increase EIC, school aid, reduce property taxes

During a news conference Thursday morning, House and Senate Republican leaders announced their support for House File 1, a bill that would remove the cap on the $60 million Taxpayer Trust Fund, and create a Taxpayer Trust and Tax Credit Fund.  If adopted, the result would be that Iowa taxpayers would receive a tax credit equal to the amount of money in the new fund, determined by dividing same by the number of eligible individual taxpayers. Today, at their news conference, it was estimated that this could approximate $750 per eligible taxpayer.